USD/JPY shifted to neutral near term – UOB

The research team at UOB Group sees USD/JPY trading in a consolidative pattern in the next 1-3 weeks.

Key Quotes

“The break above 109.60 earlier indicates that the bearish phase that started in the middle of last week has ended”.

“The outlook for the next couple of weeks is viewed as neutral and we expect USD to trade sideways, likely within a broad 108.40/111.00 range”.