Home USD/JPY: Break above 109.30/40 to leave the 110.00 psychological level in play – OCBC
FXStreet News

USD/JPY: Break above 109.30/40 to leave the 110.00 psychological level in play – OCBC

USD/JPY was last seen trading at daily highs above the 109.30 level. A break above the 109.30/40 is set to pave the way towards the 110.00 psychological level, economists at OCBC Bank appraise..

Key quotes  

“The BoJ has no plans to reduce ETF buying, suggesting that it retains a dovish leaning despite widening the YCC tolerance band.”

The USD/JPY has rebounded back above the 109.00 resistance, leaving the 109.30/40 March highs back into view.”  

“Note that the short-term implied valuations have moved higher in line with spot, leaving us more convinced of the sustainability of this run higher in the pair.”  

“A breach of 109.30/40 leaves the 110.00 psychological level in play.”

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.