6 May 2016
USD/JPY consolidative between 106-108 – UOB
Analysts at UOB Group remain neutral on USD/JPY in the next 1-3 weeks.
Key Quotes
“As expected, USD staged another attempt towards 107.50 but failed to break through (high of 107.49). The run-up from the low of 105.52 earlier this week is beginning to show signs of tiring and the risk appears to be tilted to the downside”.
“We turned neutral USD yesterday and there is no change to the view. We continue to expect this pair to trade between 106.00 and 108.00 for now”.
Key Quotes
“As expected, USD staged another attempt towards 107.50 but failed to break through (high of 107.49). The run-up from the low of 105.52 earlier this week is beginning to show signs of tiring and the risk appears to be tilted to the downside”.
“We turned neutral USD yesterday and there is no change to the view. We continue to expect this pair to trade between 106.00 and 108.00 for now”.