The research team at UOB Group sees USD/JPY testing the 114.00 neighbourhood in the next 1-3 weeks.
Key Quotes
“We just shifted to a neutral stance yesterday and there is no change to the view”.
“The current movement is considered as a corrective rebound which has scope to extend higher to 114.00 and possibly 114.50”.
“Support levels have moved higher to 113.00 followed by 112.50 (from 112.50, 112.00)”.
(Market News Provided by FXstreet)