11 Dec 2014
USD/JPY might head towards 117.20 – UOB
FXStreet (Barcelona) - The UOB Group Team sees no change its view of USD/JPY heading towards 117.20, despite the recent short-term rebound.
Key Quotes
“The shift to a bearish USD view is timely as USD dropped sharply to a low of 117.46 earlier this morning. Despite the short-term rebound, there is no change to the expectation for a move to the ideal target at 117.20. Trailing-stop has moved lower sharply to 120.20 from 121.85 yesterday.”
Key Quotes
“The shift to a bearish USD view is timely as USD dropped sharply to a low of 117.46 earlier this morning. Despite the short-term rebound, there is no change to the expectation for a move to the ideal target at 117.20. Trailing-stop has moved lower sharply to 120.20 from 121.85 yesterday.”