USD/JPY: Finally moving south – OCBC
|The picture for the USD in the next couple of sessions remains slightly heavy. Prefer to be short USD/JPY to reflect the USD negative stance in the immediate horizon, Terence Wu from OCBC Bank briefs.
Key quotes
“The USD/JPY may finally be ready to turn south after breaking through the 110.00 support on the back of USD weakness.”
“Overlay that with inherent risk-off, the downside room for USD/JPY may be significant in the coming sessions. Look for an initial target at 108.20/30 for now, with bounces likely limited to 108.90/00.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.