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Berita trading
4 Nov 2016
USD/JPY sticks to the neutral stance – UOB
The FX Research team at UOB Group noted the neutral outlook on USD/JPY, adding that string support is located in the mid-102.00s.
Key Quotes
“USD dropped to a low 102.54 before rebounding quickly. Downward pressure appears to have eased and the risk of further down-move appears to be quite slim. That said, in view of the recent sharp drop, USD is more likely to trade sideways at these lower levels instead of staging a significant recovery”.
“USD touched a low of 102.54 yesterday, holding just above the key support indicated at 102.50. Despite the overall negative undertone for this pair, a sustained move below 102.50 seems unlikely (the next support is closer to 102.00). That said, only a move back above 104.00 would indicate that the immediate downward pressure has eased”.
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