Flash: USD/JPY potentially bearish – OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, mentions that with US Aug durable goods orders uninspiring, the overhang from US fiscal concerns, and easier US yields, the USD/JPY edged lower to test below 98.50.

Key Quotes

“Going ahead, we continue to expect the pair to remain downcast with the 55-day MA (98.67) now serving as first resistance while 98.00 may also offer near term support on further dips.”