FXStreet (Bali) – Jane Foley, FX Strategist at Rabobank, expects the USD/JPY 125 level to offer strong medium-term resistance.
Key Quotes
“While the JPY would likely respond to any increase in the risk of further BoJ easing, due to its safe haven status it also remains sensitive to the general levels of risk appetite with stronger levels of risk appetite likely to chase USD/JPY higher.”
“Our concerns regarding China may therefore limit upside potential for USD/JPY in the coming months. Consequently we continue to expect the USD/JPY125 level to offer strong medium-term resistance.”
(Market News Provided by FXstreet)