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23 Apr 2015
USD/JPY:Reevaluate; Where next? - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted the conditions surrounding the USD/JPY tucked in below 120 currently.
Key Quotes:
"While the revised stop-loss level at 120.10 is still intact, the more resilient than expected USD strength suggests that our recent bearish expectation is wrong."
"That said, we do not view the current up-move as part of a bullish
phase but more of a broad consolidation range."
"For the next couple of weeks, we expect this pair to trade between the 118.50 and 120.85."
Key Quotes:
"While the revised stop-loss level at 120.10 is still intact, the more resilient than expected USD strength suggests that our recent bearish expectation is wrong."
"That said, we do not view the current up-move as part of a bullish
phase but more of a broad consolidation range."
"For the next couple of weeks, we expect this pair to trade between the 118.50 and 120.85."