Back
24 Apr 2013
Forex Flash: USD/JPY may remain a buy/dip proposition near term - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that USD/JPY may continue to remain a buy-dip proposition in the near term within a 98.00-100.00 band.
However, he expects markets to stage a breakout towards 100.50 if 100.00 is pierced. Looking to AUD/USD, he notes that in the current environment, the pair may remain continually weighed by a soft commodity complex and dour global economic releases. He writes, “The nearest support level of interest is expected towards 1.0200 while the 55-day MA (1.0345) may continue to serve as a multi-session resistance.”
However, he expects markets to stage a breakout towards 100.50 if 100.00 is pierced. Looking to AUD/USD, he notes that in the current environment, the pair may remain continually weighed by a soft commodity complex and dour global economic releases. He writes, “The nearest support level of interest is expected towards 1.0200 while the 55-day MA (1.0345) may continue to serve as a multi-session resistance.”