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11 Sep 2013
Flash: USD/JPY Buoyant – OCBC
FXstreet.com (London) - Emmanuel Ng, strategist at OCBC said that the USD/JPY is buoyant.
“Amid improving investor sentiment, the majors continued to lean on the USD on Tuesday, with the JPY under performing across the board and the antipodeans firing against their G10 counterparts – classic risk-on behavioural patterns".
"During the Asian session, positive readings from China’s industrial production, retail sales, and monetary aggregates provided the impetus for positive risk appetite, resulting in the dollar remaining pressured.”
“In a nutshell, we continue to favour tactical longs in AUD-USD, GBP-USD, and USD-JPY”
“JPY crosses on the back of sanguine investor sentiment may continue to keep the USD-JPY tilted higher”.
“Expect an initial sticking point towards the 100.90 if the century mark is breached successfully while support is expected on dips towards 99.50”.
“Amid improving investor sentiment, the majors continued to lean on the USD on Tuesday, with the JPY under performing across the board and the antipodeans firing against their G10 counterparts – classic risk-on behavioural patterns".
"During the Asian session, positive readings from China’s industrial production, retail sales, and monetary aggregates provided the impetus for positive risk appetite, resulting in the dollar remaining pressured.”
“In a nutshell, we continue to favour tactical longs in AUD-USD, GBP-USD, and USD-JPY”
“JPY crosses on the back of sanguine investor sentiment may continue to keep the USD-JPY tilted higher”.
“Expect an initial sticking point towards the 100.90 if the century mark is breached successfully while support is expected on dips towards 99.50”.