Back
14 Oct 2015
USD/JPY needs daily close below 119.50 - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted that USD/JPY has broken the key 119.50 support but confirmation of a daily close is required.
Key Quotes:
"A break below this level would indicate that the neutral consolidation phase that started in late August has ended."
"In other words, USD appears to be on the cusp of making a break lower but confirmation is only upon a daily close below 119.50. On the upside, USD has to move back above 120.05 to alleviate the downside risk."
Key Quotes:
"A break below this level would indicate that the neutral consolidation phase that started in late August has ended."
"In other words, USD appears to be on the cusp of making a break lower but confirmation is only upon a daily close below 119.50. On the upside, USD has to move back above 120.05 to alleviate the downside risk."