USD/JPY stuck within 112-114 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to the research team at UOB Group, USD/JPY should remain within the 112-114 range in the next 1-3 weeks.

    Key Quotes

    “Despite the strong rebound from the low of 112.61 yesterday, the immediate pressure is still on the downside. Barring a move back above 113.60, expect another leg lower to 112.40/45”.

    “The pair’s bounce off daily lows is gathering further steam today in response to auspicious results from the UK’s labour market, where the Claimant Count Change has decreased more”.
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