Further upside expected in USD/JPY – OCBC

FXStreet (Edinburgh) - USD/JPY could continue to test higher levels in the near term, according to Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“Expect attention to be turned towards the BOJ after Draghi’s latest comments”.

“Note also short-end riskies continue to push higher”.

“In the interim, resistance levels at 120.70 and then at the 200-day MA (120.96) may be expected to continue to remain under threat ahead of 121.25”.