USD/JPY outlook from UOB.

Home / USD JPY / USD/JPY outlook from UOB. FORECAST

UOB analysts provided their outlook on USD/JPY today.

“We turned neutral USD last Friday after our stop-loss was triggered at 109.60 (high of 109.73). The sharp drop upon opening in Sydney was clearly unexpected. The downside risk is increasing quickly and a daily closing below 107.50 would indicate a resumption of the bearish trend. The odds for such a move appear to be quite high unless this pair can reclaim 109.40 in the next few days.” written in the report.

As of 5:25 PM EDT the USD/JPY pair was trading at 108.79, which is 0.55% higher than the previous close.

Forex Forecast

Recommended Posts