USD/JPY aims for a test of 119.70 – UOB

FXStreet (Edinburgh) - In opinion of the research team at UOB Group, USD/JPY could visit the area of 119.70.

Key Quotes

“Despite the short-term USD weakness, the current price action is likely a consolidation phase that should eventually lead to a move higher unless there is a break below the current stop-loss at 117.50”.

“Immediate target remains unchanged at 119.70 even though 119.20 is already a strong resistance”.