Flash: Falling UST yields crimped the USD/JPY below 98.28 – OCBC

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank suggests that the falling UST yields crimped the USD/JPY on Thursday with the pair relapsing below its 55-day MA (98.28) once again.

Key Quotes

“If the 98.00 floor is violated, the next support of consequence is expected at the 200-day MA
(97.15) before 97.00. We continue to expect any potential dollar weakness to continue to manifest itself via the USD-JPY into the end of the week.”