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17 Apr 2015
USD/JPY favours the downside while below 119.60 – UOB
FXStreet (Barcelona) - According to the Research Team at UOB Group, USD/JPY downside pressure remains as long as the pair stays capped at the 119.60 resistance.
Key Quotes
“While the strong resistance at 119.60 is still intact, the anticipated USD weakness is less than expected.”
“Downward momentum is waning but as long 119.60 continues to cap, the immediate pressure is still on the downside. That side, a clear break below 118.50 appears unlikely for today.”
Key Quotes
“While the strong resistance at 119.60 is still intact, the anticipated USD weakness is less than expected.”
“Downward momentum is waning but as long 119.60 continues to cap, the immediate pressure is still on the downside. That side, a clear break below 118.50 appears unlikely for today.”