24 Mar 2015
USD/JPY outlook remains neutral – UOB
FXStreet (Barcelona) - Analysts at UOB Group, maintain a neutral outlook on USD/JPY, anticipating the pair to trade between the 119.20 – 121.40 range this week.
Key Quotes
“Overall, the pair remains underpinned on USD weakness ahead of the key US CPI data and so long as the crucial 20-DMA support is breached.”
“The outlook for this pair is neutral even though a move to the major support at 119.20 will not be surprising.”
“That said, downward momentum is patchy at best and a break below this level appears unlikely. On the upside, 121.40 is a strong resistance ahead of the year-to-date high of 122.05.”
“Overall, we expect range trading this week, likely between 119.20 and 121.40.”
“Support: 119.20, 118.15”
“Resistance: 121.40, 121.05”
Key Quotes
“Overall, the pair remains underpinned on USD weakness ahead of the key US CPI data and so long as the crucial 20-DMA support is breached.”
“The outlook for this pair is neutral even though a move to the major support at 119.20 will not be surprising.”
“That said, downward momentum is patchy at best and a break below this level appears unlikely. On the upside, 121.40 is a strong resistance ahead of the year-to-date high of 122.05.”
“Overall, we expect range trading this week, likely between 119.20 and 121.40.”
“Support: 119.20, 118.15”
“Resistance: 121.40, 121.05”