USD/JPY eyes support in the mid-106.00s – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group indicated the next relevant support is located in the mid-106.00s.

    Key Quotes

    “The next significant support for USD is much further down at 106.50”.

    “In view of the rapid and extended sharp drop recently, we feel that the odds for a move to 106.50 are not high”.

    “That said, the outlook for USD is still bearish as long as the stop-loss at 109.60 is intact (adjusted from 110.10)”.
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