USD/JPY door open for a test above 119.00 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In opinion of the research team at UOB Group, the pair could see its upside renewed towards levels above the 119.00 handle in the near-term.

    Key Quotes

    “The clear break above 118.40 was unexpected and suggests that the current USD strength could extend higher in the coming days”.

    “That said, shorter-term indicators are overbought and any further up-move will likely be at a slower pace. For now, the target is set at 119.70 with a stop-loss at 117.50”.
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