USD/JPY eyes 118.30/40 in the near term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - In opinion of the research team at UOB Group, USD/JPY could attempt a rebound towards the 118.30/40 in the near term.

    Key Quotes

    “Against our expectations, USD rebounded strongly without testing the 117.05/10 support”.

    “It is getting increasingly likely that this pair is forming a short-term base for a stronger rebound in the coming days”.

    “For today, allow for a dip to 117.80 but 117.50 is expected to hold for a move higher to retest the 118.35/40 peak seen earlier this week”.
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