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26 Mar 2013
Forex Flash: USD/JPY supported by dovish Kuroda words - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank note that implicitly dovish comments from the BoJ´s Kuroda this morning may support USD/JPY on dips in the near term.
However, risk appetite levels and position adjustments ahead of the next BoJ meeting in early April may see the pair consolidate lower in the near term. He feels that any violation of the 94.00 suppor may see the pair seek comfort towards 93.12 and then the 55-day MA (92.67). Moving to AUD/USD, Ng comments that he remains relatively in favor of the AUD with immediate resistance expected towards 1.0480/00.while support may materialize on any dips towards the 1.0400 area.
However, risk appetite levels and position adjustments ahead of the next BoJ meeting in early April may see the pair consolidate lower in the near term. He feels that any violation of the 94.00 suppor may see the pair seek comfort towards 93.12 and then the 55-day MA (92.67). Moving to AUD/USD, Ng comments that he remains relatively in favor of the AUD with immediate resistance expected towards 1.0480/00.while support may materialize on any dips towards the 1.0400 area.