USD/JPY points to rangebound between 122.00-124.00 – OCBC

By FXStreet FXStreet (Edinburgh) – In the view of Emmanuel Ng, FX Strategist at OCBC Bank, the pair remains poised for a consolidative pattern between 122.00 and 124.00.

Key Quotes

“The November Nikkei manufacturing PMI for Japan improved to 52.8 from 52.4 the previous month but this may not bolster the JPY for long”.

“The pair may attempt to base build in a 122.00-124.00 with the JPY still perceived to be relatively more sensitive to USD dynamics”.
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Source:: FX Street