USD/JPY Eyes Support in the Mid-106.00s – UOB
The research team at UOB Group indicated the next relevant support is located in the mid-106.00s.
Key Quotes
“The next significant support for USD is much further down at 106.50”.
“In view of the rapid and extended sharp drop recently, we feel that the odds for a move to 106.50 are not high”.
“That said, the outlook for USD is still bearish as long as the stop-loss at 109.60 is intact (adjusted from 110.10)”.
(Market News Provided by FXstreet)
