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- USD/JPY faces a strong support around 103.00 – UOB
USD/JPY faces a strong support around 103.00 – UOB
FXStreet reports that FX Strategists at UOB Group discusses USD/JPY outlook.
Next 1-3 weeks: “Yesterday), we highlighted that USD ‘could continue to trade sideways, likely within a 103.40/104.40 range’. USD is currently approaching the bottom of the range at 103.40 and shorter-term momentum is beginning to improve. The bias is tilted to the downside but any weakness is likely limited to a test of the major support at 103.00. On the upside, a break of 104.20 would indicate the current mild downward pressure has eased.”
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