4 Feb 2014
Flash: USD/JPY to 100.00? - UOB Group
FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group notes that USD/JPY is approaching strong support at 100.62 but a break will likely lead to a quick move towards 100.00
Key Quotes
“While the sharp plunge is approaching strong mid-term support at 100.62, there is no sign of bottoming just yet and a clear break below 100.62 will likely lead to a quick move towards the psychological support at 100.00.”
“Any short-term rebound is expected to stay below 102.10 but only a move above 102.70 will indicate that a short-term bottom is in place.”
“Supports: 100.60, 100.00. Resistants: 102.10, 102.70.”
Key Quotes
“While the sharp plunge is approaching strong mid-term support at 100.62, there is no sign of bottoming just yet and a clear break below 100.62 will likely lead to a quick move towards the psychological support at 100.00.”
“Any short-term rebound is expected to stay below 102.10 but only a move above 102.70 will indicate that a short-term bottom is in place.”
“Supports: 100.60, 100.00. Resistants: 102.10, 102.70.”