16 Mar 2016
USD/JPY stuck within 112-114 – UOB
According to the research team at UOB Group, USD/JPY should remain within the 112-114 range in the next 1-3 weeks.
Key Quotes
“Despite the strong rebound from the low of 112.61 yesterday, the immediate pressure is still on the downside. Barring a move back above 113.60, expect another leg lower to 112.40/45”.
“The pair’s bounce off daily lows is gathering further steam today in response to auspicious results from the UK’s labour market, where the Claimant Count Change has decreased more”.
Key Quotes
“Despite the strong rebound from the low of 112.61 yesterday, the immediate pressure is still on the downside. Barring a move back above 113.60, expect another leg lower to 112.40/45”.
“The pair’s bounce off daily lows is gathering further steam today in response to auspicious results from the UK’s labour market, where the Claimant Count Change has decreased more”.