Back
3 Apr 2014
USD/JPY eyes remain on 104 - OCBC Bank
Emmanuel Ng, FX Strategist at OCBC Bank believes that the 104 level remains pivotal for USD/JPY.
Key Quotes
"Firmer US yields continued to keep the USD/JPY aloft on Wednesday. Our view remains intact and we expect the 104.00 level to be pivotal, with this psychological barrier untested since mid-January. Meanwhile, any capitulation may pull the pair lower towards 103.50/60.”
“As noted previously, prevailing conditions may prove conducive for further upside potential, barring a significant negative shock from the US labor market numbers this Friday."
Key Quotes
"Firmer US yields continued to keep the USD/JPY aloft on Wednesday. Our view remains intact and we expect the 104.00 level to be pivotal, with this psychological barrier untested since mid-January. Meanwhile, any capitulation may pull the pair lower towards 103.50/60.”
“As noted previously, prevailing conditions may prove conducive for further upside potential, barring a significant negative shock from the US labor market numbers this Friday."