USD/JPY upside limited near 120.90 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees USD/JPY's upside could be capped by the 120.90 level.

Key Quotes

“Background risk aversion may likely limit the upside towards the 200-day MA (120.89) while a floor towards 119.00 may continue to prevail as confidence towards the Fed lift-off in December gathers steam”.

“Overall, range bound behavior multi-session may persist pending further cues”.