30 Jan 2015
USD/JPY upward momentum ticking higher - UOB
FXStreet (Barcelona) - According to UOB Group, the USD/JPY upward momentum is only ticking higher and the recent consolidation doesn’t indicate the start of a bullish reversal.
Key Quotes
“The smart rebound from the recent low of 117.25 is a continuation of the recent sideway consolidation phase and not the start of a bullish reversal.”
“That said, upward momentum is ticking higher and a clear break above 118.85 would signal the start of a sustained USD strength.”
“In the meanwhile, expect further messy sideway trading between 117.00 and 118.85.”
Key Quotes
“The smart rebound from the recent low of 117.25 is a continuation of the recent sideway consolidation phase and not the start of a bullish reversal.”
“That said, upward momentum is ticking higher and a clear break above 118.85 would signal the start of a sustained USD strength.”
“In the meanwhile, expect further messy sideway trading between 117.00 and 118.85.”