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24 Mar 2016
USD/JPY short-term low in place? – UOB
The research team at UOB Group suggested the pair could have posted a near-term low in last week’s 110.60 area.
Key Quote
“While the high of 112.90 yesterday held below the bearish stop-loss at 113.00, the persistent USD strength suggests an increasing risk that USD has likely made a short-term bottom at the recent low of 110.65 (target at 110.00 not met)”.
“Unless this pair can move below 112.00 in the next few sessions, the odds for further down-move will continue to diminish”.
Key Quote
“While the high of 112.90 yesterday held below the bearish stop-loss at 113.00, the persistent USD strength suggests an increasing risk that USD has likely made a short-term bottom at the recent low of 110.65 (target at 110.00 not met)”.
“Unless this pair can move below 112.00 in the next few sessions, the odds for further down-move will continue to diminish”.