USD/JPY well supported at 116.45 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The research team at UOB Group sees pullbacks in the pair to remain well supported around 116.45 in the near term.

    Key Quotes

    “The short-term rebound in USD touched a high of 118.37, just a few pips away from our stop-loss at 118.40”.

    “While the subsequent sharp drop bodes well for our bearish view, we continue to see strong support at 116.45 and those who are shorts should at least book some profit at this level. Stop loss remains unchanged at 118.40 for now”.
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