9 Apr 2014
USD/JPY violates Ichimoku cloud - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that USD/JPY has violated its Ichimoku cloud on the downside.
Key Quotes
“Apart from the post BOJ MPC reaction, softer US Treasury yield also continued to depress the USD/JPY on Tuesday.”
“Going ahead, the USD/JPY may be given to further adjustment in the near term and if 102.00 is not re-taken, next near term support is expected towards 102.20. On a technical note, note that the pair has also violated its Ichimoku cloud on the downside.”
Key Quotes
“Apart from the post BOJ MPC reaction, softer US Treasury yield also continued to depress the USD/JPY on Tuesday.”
“Going ahead, the USD/JPY may be given to further adjustment in the near term and if 102.00 is not re-taken, next near term support is expected towards 102.20. On a technical note, note that the pair has also violated its Ichimoku cloud on the downside.”