USD/JPY upside appears capped around 119.60 – OCBC

FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, occasional bullish attempts in USD/JPY could face strong resistance at 119.60.

Key Quotes

“In the current environment, the pair is expected to remain inherently top heavy, especially if dollar vulnerability is mated with underlying risk aversion”.

“A sustained breach of 118.60 may risk a subsequent decay towards 118.00 while 119.60 may cap in the near term”.