USD/JPY resistance at 120.60 may continue to cap – OCBC

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, believes that USD/JPY might remain in a 119.82-120.60 range for today.

Key Quotes

“TKY remains away on holiday and USD-JPY may remain tethered around the 120.00 level while rate differentials may also continue to temper dips towards the 55-day MA (119.82). Upside resistance around 120.60 meanwhile may remain in play pending further headlines.”