USD/JPY faces strong resistance at 117.50 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 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, USD/JPY’s bullish attempts could find a strong barrier in the mid-117.00s in the near-term.

    Key Quotes

    “The spike in volatility was clearly unexpected as USD crashed to a low of 115.96 before rebounding strongly to close about 100 pips higher from the low”.

    “While a short-term bottom is likely in place at 115.96, the current rebound is expected to face stiff resistance near 117.50. Strong support is at 116.50 ahead of the 115.96 low”.
    For more information, read our latest forex news.

Share This Page

free forex signals