15 Apr 2014
USD/JPY holds neutral outlook - UOB
FXStreet (Bali) - The Market Strategy Team at UOB Group notes that the outlook on USD/JPY is still unclear.
Key Quotes
"The key level to watch is at 101.20 as a break below this level could trigger further stop-loss selling towards the major support at 100.76. However, at this stage, it is unclear whether USD can move clearly below this level."
"In the meanwhile, the outlook is considered as neutral and only a break below 101.20 would shift the outlook to bearish. Having said that, the immediate pressure is on the downside but a break above 102.50 would indicate that the downward pressure has stabilized."
Key Quotes
"The key level to watch is at 101.20 as a break below this level could trigger further stop-loss selling towards the major support at 100.76. However, at this stage, it is unclear whether USD can move clearly below this level."
"In the meanwhile, the outlook is considered as neutral and only a break below 101.20 would shift the outlook to bearish. Having said that, the immediate pressure is on the downside but a break above 102.50 would indicate that the downward pressure has stabilized."