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5 Mar 2014
Flash: USD/JPY outlook neutral for now - UOB Group
FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group believes that USD/JPY has a neutral outlook for now.
Key Quotes
“While the strong overnight rally remains below the key resistant at 102.75, the potential for further down-move has diminished greatly. Unless there is clear move below the strong support at 101.20, this pair appears to be basing out for a stronger recovery.”
“In the meanwhile, the outlook is considered neutral for sideway trading between 101.50 and 102.75.”
Key Quotes
“While the strong overnight rally remains below the key resistant at 102.75, the potential for further down-move has diminished greatly. Unless there is clear move below the strong support at 101.20, this pair appears to be basing out for a stronger recovery.”
“In the meanwhile, the outlook is considered neutral for sideway trading between 101.50 and 102.75.”