FXStreet (Edinburgh) – In the view of FX Strategist at OCBC Bank Emmanuel Ng, the pair remains poised for a consolidative pattern between 122.00 and 124.00 for the time being.
Key Quotes
“The bear flattening of the UST curve over the past month may be expected to continue to keep the USD-JPY supported within a 122.00-124.00 range pending further external cues”.
“Intraday, some near tem negativity from this morning’s China PMIs may also serve to discourage upside tests”.
(Market News Provided by FXstreet)