FXStreet (Barcelona) – FX Strategist at OCBC Bank, Emmanuel Ng, expects USD/JPY to remain responsive to any moves in the Dollar.
Key Quotes
“Official Japanese jawboning regarding the yen is not likely to let up but may not present enough of a deterrent for dollar bulls in the near term with net leveraged CFTC JPY shorts jumping in the latest week.”
“The 125.00 resistance remains a key resistance after the almost uninterrupted run up since late May.”
“Overall, we continue to expect the pair to remain relatively responsive to broad USD overtures.”
(Market News Provided by FXstreet)