1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/JPY keeps its bearish stance – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    USD/JPY’s perspective remains on the bearish side, according to the research team at UOB Group.

    Key Quotes

    “The anticipated USD strength exceeded our expectation by easily taking out the strong 109.15/20 resistance. The upmove appears to have scope to extend higher and a break above 109.60 could lead to extension to 110.00 (a move this level appears unlikely for today)”.

    “The stop-loss for our bearish USD view at 109.60 is coming under threat and a break above this level would indicate that a short-term low is place”.

    “This appears to be likely scenario unless there is move back below 108.40 within these two days”.
    For more information, read our latest forex news.
     

Share This Page