USD/JPY risk appetites to take hold? - OCBC Bank

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Guatemala) - Emmanuel Ng, FX Strategist at OCBC Bank suggested that USD/JPY may continue to be a function of dollar dynamics and risk appetite developments this week.



Key Quotes



"Collapsing UST yields pulled the USD/JPY lower below 102.40 on Friday and the pair may continue to be a function of dollar dynamics and risk appetite developments this week. On the CFTC front, net leveraged JPY shorts (still at fairly stretched levels)were reduced in the latest week while we retain a neutral outlook at this juncture. Expect the102.00 neighborhood to support for now while the 200-day MA (102.39) and the 102.50 area may prove to be short term resistance levels."



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