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USD/JPY bearish below 115.95 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group sees the pair’s outlook turning to bearish following a break below recent lows in the 115.95 area.

    Key Quotes

    “The shift to a neutral stance yesterday was timely even though we clearly do not anticipate such a sharp drop to 117.03”.

    “In view of the extreme volatility, we believe it is too early to expect a sustained down-move at this stage”.

    “From here, we think only a clear move below the recent low near 115.95/00 would indicate the start of a bearish phase. In the meanwhile, the elevated volatility could lead to a period of choppy trading within a very broad range”.
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