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- USD/JPY now looks to the 106.00 region - UOB
USD/JPY now looks to the 106.00 region - UOB
NFXStreet reports that FX Strategists at UOB Group believes that USD/JPY could extend the upside on a break above the 106.00 level.
24-hour view: “USD traded between 105.22 and 105.69 last Friday, relatively close to our expected range of 105.25/105.75. The price actions offer no fresh clues and we continue to expect USD to trade sideways between 105.25 and 105.75.”
Next 1-3 weeks: “There is room for USD to edge higher but any advance is viewed as part of 104.75/105.75 range (narrowed from 104.25/105.75 previously). While a move above 105.75 would not be surprising, USD has to break 106.00 before a sustained advance can be expected.”
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