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19 Feb 2013
Forex Flash: USD/JPY and AUD/USD see some upside - OCBC Bank
Emmanuel Ng of OCBC Bank notes that both USD/JPY and AUD/USD have a slight upside bias overnight.
Starting with USD/JPY, he comments that the pair may continue to mark time ahead of the imminent announcement of the next BOJ governor although any dips in the pair are likely to be shallow post-G20. He writes, “Topside resistance is expected at 95.00 and then at 95.35. Meanwhile, key support for the pair is not expected till 91.00.” Pivoting to AUD/USD, Ng notes that overnight, AUD/USD blipped slightly higher with the RBA minutes not indicating any heightened intention to cut rates further at the moment. In addition, he notes that discussions also notes the brightening outlook for both the US and China.
Starting with USD/JPY, he comments that the pair may continue to mark time ahead of the imminent announcement of the next BOJ governor although any dips in the pair are likely to be shallow post-G20. He writes, “Topside resistance is expected at 95.00 and then at 95.35. Meanwhile, key support for the pair is not expected till 91.00.” Pivoting to AUD/USD, Ng notes that overnight, AUD/USD blipped slightly higher with the RBA minutes not indicating any heightened intention to cut rates further at the moment. In addition, he notes that discussions also notes the brightening outlook for both the US and China.