USD/JPY top in place? – UOB

The research team at UOB Group suggested that a top near the 114.00 could be in place for USD/JPY.

Key Quotes

“The expected corrective rebound has likely topped out at 113.80 yesterday (falling short of our target at 114.00)”.

“However, the outlook for USD is still viewed as neutral and we expect this pair to trade in a broad 111.50/113.50 range from here”.