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- USD/JPY still targets the 106.00 region – UOB
USD/JPY still targets the 106.00 region – UOB
FXStreet reports that according to FX Strategists at UOB Group, the upside momentum in USD/JPY could see the 106.00 level (and above) retested in the short-term horizon.
24-hour view: “We expected USD to “trade sideways between 104.80 and 105.55” yesterday. While USD traded sideways as expected, the registered range was narrower than anticipated (104.99/105.67). The underlying has firmed somewhat and this could lead to USD testing the 105.75 resistance first before a pullback can be expected. For today, the major resistance at 106.10 is likely out of reach. Support is at 105.20 followed by 105.00.”
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