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16 Jan 2015
USD/JPY might consolidate before heading lowing – UOB
FXStreet (Barcelona) - Analysts at UOB Group expect USD/JPY consolidate before making a move lower towards 115.55 levels, with the pair currently being in extreme oversold position.
Key Quotes
“It looks like our next target at 115.55 may be met soon but we continue to recognize the extreme oversold condition could lead to a rebound/consolidation first. That said, the overall view for USD remains negative and only a break above the trailing stop at 118.20 would suggest that a temporary low is in place.”
Key Quotes
“It looks like our next target at 115.55 may be met soon but we continue to recognize the extreme oversold condition could lead to a rebound/consolidation first. That said, the overall view for USD remains negative and only a break above the trailing stop at 118.20 would suggest that a temporary low is in place.”