Flash: USD/JPY to remain supported after climbing above 98.00 on Tuesday – OCBC

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank suggests that ahead of the FOMC tonight, expect USD/JPY to remain somewhat supported intra-day after poking its head back above 98.00 on Tuesday.

Key Quotes

“Outside of the dollar, expect also any potential negative news flow to cap the pair (and the AUD/USD). In the interim, the 55-day MA (98.35) should cap while any break below 98.00 may run into support at 97.70 before the 200-day MA (97.49).”