Back
23 Feb 2016
USD/JPY: rangebound trading to prevail in coming weeks – UOB
The research team at UOB Group sees USD/JPY extending its consolidative pattern between 112.00 and 115.00 in the next weeks.
Key Quotes
“While we continue to hold a neutral view, the sharp drop last Friday is gaining momentum and a daily closing below 112.00 would shift the current neutral outlook to bearish”.
“In the meanwhile, a snap back to higher level will not be surprising but a move above the key resistance at 115.00 is unlikely, at least not for the next several days”.
Key Quotes
“While we continue to hold a neutral view, the sharp drop last Friday is gaining momentum and a daily closing below 112.00 would shift the current neutral outlook to bearish”.
“In the meanwhile, a snap back to higher level will not be surprising but a move above the key resistance at 115.00 is unlikely, at least not for the next several days”.