USD/JPY: rangebound trading to prevail in coming weeks – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group sees USD/JPY extending its consolidative pattern between 112.00 and 115.00 in the next weeks.

    Key Quotes

    “While we continue to hold a neutral view, the sharp drop last Friday is gaining momentum and a daily closing below 112.00 would shift the current neutral outlook to bearish”.

    “In the meanwhile, a snap back to higher level will not be surprising but a move above the key resistance at 115.00 is unlikely, at least not for the next several days”.
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