USD/JPY expected remain top heavy – OCBC

FXStreet (Barcelona) - Analysts at OCBC Bank view that USD/JPY might remain top heavy and consolidate into 116.80 region if 117.00 level is breached.

Key Quotes

“With risk appetite developments and US yields continuing to dictate the movement of the USD-JPY, the pair is expected to remain top heavy. The 55-day MA (118.08) may continue to cap with some consolidation expected into 116.80 on further weakness if 117.00 is breached.“

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