USD/JPY bearish below 112.00 – UOB

The research team at UOB Group sees further weakness is waiting for the pair below the 112.00 handle.

Key Quotes

“While the short-term pressure is clearly on the downside, we prefer to see a daily closing below 112.00 before adopting a bearish stance”.

“In the meanwhile, USD is expected to remain under pressure unless it can reclaim”