USD/JPY capped at 120.60 – OCBC

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, gives the outlook for USD/JPY, expecting the pair to maintain a 119.81-120.60 range intraday.

Key Quotes

“TKY is away for the Golden Week holidays while background dollar resilience in the short term may see the 55-day MA (119.81) lend support although any investor skittishness towards global growth prospects may plant a cap into 120.60 intra-day.”