USD/JPY bullish near term, eyes 124.40 – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, remains bullish on the pair, which could target 124.40 in the near term.

Key Quotes

“With the dollar garnering traction from Fed speak in the near term, the BOJ’s latest downward revisions to its CPI forecasts we think would only keep the USD-JPY (gradually) tilted to the upside”.

“Any successful attempt to breach 124.00 is expected to paint the way towards 124.40”.