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USD/JPY bearish, targets 110.00 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, the pair’s outlook remains bearish, with a potential downside towards the 110.00 handle.

    Key Quotes

    “While the month neutral consolidation is likely over, the decline in USD has been more rapid and aggressive than expected which mean we may have missed a bulk of the move”.

    “Overall, the risk is still on the downside and the target from here is at 110.00”.

    “Resistance at 112.30 is likely strong enough to cap any short-term rebound but only a move above 113.00 would indicate that our view is wrong”.
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