Back
18 Jun 2013
Flash: EUR & Yen view – OCBC
FXstreet.com (London) - Emmanuel Ng, strategist at COBC, said that the EUR/USD in their view remains unchanged and multi-session.
He said the EURUSD may hover around the 1.3400 neighbourhood pending the FOMC and the slew of EZ numbers this week. In the interim, any failure to hold at 1.3400 may see a consolidation towards the 1.3360 area before 1.3300. For the USD/JPY, he suggests a top heavy stance may prevail on the back of shaky JPY-crosses and the open verdict on dollar strength at this juncture. He added that the 95.00 handle may remain pivotal in the near term with downside waypoints expected into 93.75, and then 92.40.
He said the EURUSD may hover around the 1.3400 neighbourhood pending the FOMC and the slew of EZ numbers this week. In the interim, any failure to hold at 1.3400 may see a consolidation towards the 1.3360 area before 1.3300. For the USD/JPY, he suggests a top heavy stance may prevail on the back of shaky JPY-crosses and the open verdict on dollar strength at this juncture. He added that the 95.00 handle may remain pivotal in the near term with downside waypoints expected into 93.75, and then 92.40.