Flash: USD/JPY oscillates around 55D MA - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank prefers to stay flat to heavy on the USD/JPY as the pair continues to oscillate around its 55-day MA (99.09).

Key Quotes

“On the CFTC front, net speculative JPY shorts were cut in the latest week and the pair may also remain slightly top heavy post the US labor market numbers but this effect is expected to taper in due course.”

“In the interim, a sustained breach below 99.00 may pave the way towards 98.50/75.”