USD/JPY neutral bias persists near-term – UOB

FXStreet (Edinburgh) - In opinion of the research team at UOB Group, the pair could face some consolidation in the next 1-3 weeks.

Key Quotes

“The unexpected turn-around from the recent high 121.65/70 took out our trailing stop-loss at 120.00 (122.00 profit-taking level not met)”.

“The outlook for this pair is viewed as neutral and the current movement is likely the early stages of a broad and choppy consolidation phase”.

“Key levels are at 117.65 and 121.70”.