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17 Sep 2013
Flash: USD/JPY sags above 55D MA - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that softening UST yields continue to make for a soggy USD/JPY in the current environment with the pair still contemplating the 55-day MA (98.87) on the downside.
Key Quotes
“Note also background US debt ceiling concerns beginning to come to the fore, providing convenient fodder for dollar bears at this juncture.”
“Note that any breach lower in the pair below the 55-day MA opens the way to 98.00/30. “
Key Quotes
“Note also background US debt ceiling concerns beginning to come to the fore, providing convenient fodder for dollar bears at this juncture.”
“Note that any breach lower in the pair below the 55-day MA opens the way to 98.00/30. “