USD/JPY outlook shifted to bearish – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, the pair’s perspective has turned to bearish in the next 1-3 weeks.

    Key Quotes

    “USD broke below last month 110.65 low to touch a 109.94”.

    “While the outlook has turned bearish, it is likely that we have seen a bulk of the USD weakness even though another leg lower to 109.50 will not be surprising”.

    “Resistance is at 111.00 but only a move above the stoploss at 111.60 would indicate that a short-term low is in place”.
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