USD/JPY remains capped by 55D MA - OCBC Bank Emmanuel Ng of OCBC Bank notes that market perceptions towards the BOJ’s resolve to maintain an accommodative policy remain fairly secure. Key Quotes “The BOJ governor (stated) in a newspaper article that the central bank would not hesitate to provide further stimulus if needed.” “As noted previously, the major impetus for the pair in the near term may continue to emanate from the US front, with investors still seen in a top heavy mood for the pair.” “USD/JPY remains well capped by the 55-day MA (98.24) while initial support is expected towards 96.90.”
Posted on: Wed, 21 Aug 2013 08:15:17 +0000