3 May 2016
USD/JPY could slip towards 105.20 – UOB
The research team at UOB Group believes USD/JPY could test the 105.20 area in the next 1-3 weeks.
Key Quotes
“We shifted to a bearish USD view last Friday and the 106.10 target was just reached as of the time of writing”.
“The 200 pips drop is clearly over-extended and especially from a short-term perspective those who are short should look to book partial profit at current level”.
“Stoploss is adjusted to 107.40 and the next target to aim for is at 105.20, the minor low back in October 2014”.
Key Quotes
“We shifted to a bearish USD view last Friday and the 106.10 target was just reached as of the time of writing”.
“The 200 pips drop is clearly over-extended and especially from a short-term perspective those who are short should look to book partial profit at current level”.
“Stoploss is adjusted to 107.40 and the next target to aim for is at 105.20, the minor low back in October 2014”.