USD/JPY resistance remains around 120.80 – OCBC
FXStreet (Edinburgh) – Emmanuel Ng, FX Strategist at OCBC Bank, sees the upside in USD/JPY facing strong resistance in the 120.80 USD/JPY area so far.
Key Quotes
“A better looking risk appetite landscape may keep the pair supported via the JPY-crosses in spite of the dollar’s near term vulnerability”.
“Immediate resistance continues to rest at the 200-day MA (120.84) before 121.00 USD/JPY while supports are seen on approach of 120.00 ahead of 119.80 USD/JPY ”.
Emmanuel Ng, FX Strategist at OCBC Bank, sees the upside in the pair facing strong resistance in the 120.80 USD/JPY area so far…
(Market News Provided by FXstreet)