Flash: USD/JPY still slightly uncomfortable with undue upside - OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, mentions that the we are still slightly uncomfortable with undue upside for the USD/JPY in the near term despite slightly firmer US yields and Japanese corporate tax headlines.

Key Quotes

“With investor sentiment on edge with respect to the US fiscal situation, the pair may have to overcome resistance around the 99.00 area convincingly to establish a foothold, and failing which, a relapse back towards the 55-day MA (98.68) cannot be ruled out.”