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USD/JPY still points to 110.00 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group sees the pair slipping towards the 110.00 handle in the near term.

    Key Quotes

    “While the recovery from last week’s low of 110.65 has been more resilient than expected, the sharp drop from the recent high of 112.95/00 appears incomplete and another leg lower to test the 110.00 support is still a distinct possibility”.

    “The overall price action appears to be a ‘triangle break-down’ but a move back above 112.95/00 would indicate that the drop to the 110.65 is a ‘false break’.
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