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9 Oct 2013
Flash: USD/JPY may retain top heavy - OCBC
FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, suggests that the BOJ MPC minutes released this morning proved to be a non-mover while the shrinking current account surplus also did no favors for the JPY.
Key Quotes
“Going ahead, the pair may retain top heavy, especially if the risk appetite environment remains fragile and/or if the markets continue to harp on the Yellen news flow.”
“On the technical front, the 200-day MA (96.78) is expected to remain pivotal and if this is perforated, 96.50 and then 96.00 would beckon.”
Key Quotes
“Going ahead, the pair may retain top heavy, especially if the risk appetite environment remains fragile and/or if the markets continue to harp on the Yellen news flow.”
“On the technical front, the 200-day MA (96.78) is expected to remain pivotal and if this is perforated, 96.50 and then 96.00 would beckon.”