21 Jan 2015
USD/JPY might remain between 116.50-119.50 levels– UOB
FXStreet (Barcelona) - Analysts at UOB Group expect that the USD/JPY pair might trade between 116.50-119.50 levels for the next one week, and only a move above 119.50 would signal resumption of the bull trend.
Key Quotes
“Despite the strong up-move yesterday, we are not convinced that the current movement is a resumption of the recent bullish trend. Only a break above 119.50 would suggest a sustained move above 120.00 and beyond. In the meanwhile, further choppy trading between 116.50 and 119.50 can be expected for the next one week or so.”
Key Quotes
“Despite the strong up-move yesterday, we are not convinced that the current movement is a resumption of the recent bullish trend. Only a break above 119.50 would suggest a sustained move above 120.00 and beyond. In the meanwhile, further choppy trading between 116.50 and 119.50 can be expected for the next one week or so.”