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USD/JPY needs daily close below 119.50 - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at UOB Group noted that USD/JPY has broken the key 119.50 support but confirmation of a daily close is required.

    Key Quotes:

    "A break below this level would indicate that the neutral consolidation phase that started in late August has ended."

    "In other words, USD appears to be on the cusp of making a break lower but confirmation is only upon a daily close below 119.50. On the upside, USD has to move back above 120.05 to alleviate the downside risk."
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