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USD/JPY focus shifted to 112.00 – UOB

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group has noted the relevance of the 112.00 handle in the pair’s outlook for the near term.

    Key Quotes

    “While USD touched a low of 111.04 yesterday, it rebounded strongly to close above 112.00”.

    “The undertone is clearly negative but we are not convinced that the current price action is the start of a sustained down-move unless there is a daily closing below 112.00”.

    “That said, this pair is expected to remain under pressure unless it can reclaim the strong 113.00 resistance”.
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