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21 Jun 2013
Flash: USD/JPY base building as AUD/USD probes support - OCBC Bank
FXstreet.com (London) - Emmanuel Ng of OCBC Bank notes that USD/JPY continues to base build while AUD/USD proceeds to probe support.
Starting with USD/JPY, Ng writes, “Our view remains unchanged and the USD-JPY may continue to base build post-FOMC with upside resistance expected into the 98.00 area while 96.00 may provide a near term base.” Moving to AUD/USD, he sees that the pair continued to probe the 0.9200 support on Thursday and investors are not expected let up just yet given the negative vibes from equities/China. He writes, “A sustained break at this juncture may precipitate a test towards the 0.9140 area in the short term.”
Starting with USD/JPY, Ng writes, “Our view remains unchanged and the USD-JPY may continue to base build post-FOMC with upside resistance expected into the 98.00 area while 96.00 may provide a near term base.” Moving to AUD/USD, he sees that the pair continued to probe the 0.9200 support on Thursday and investors are not expected let up just yet given the negative vibes from equities/China. He writes, “A sustained break at this juncture may precipitate a test towards the 0.9140 area in the short term.”