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Forex Flash: USD/JPY possibly overstretched – OCBC Bank

By FXstreet.com,  January 09, 2013, 04:43:00 AM EDT

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank has offered his daily outlook on USD/JPY´s prospects for the day ahead.

He notes that his prior view that the pair´s top side may have been looking over stretched could see the it head south on positional adjustments. He notes however that, "the official intent to continue to combat deflation with background expectations for the BOJ to continue to open the spigot in terms of monetary accommodation and double its inflation target persists." He feels that a key retracement level at 85.82 may prove pivotal multi-session, especially if profit taking continues to persist.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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