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

    Oct 7, 2015
    Likes Received:
    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”.
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