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27 Mar 2014
USD/JPY gathering short term downward momentum - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group notes that USD/JPY short term downward momentum is gaining strength.
Key Quotes
"While there is no change to the current neutral view, short-term downward momentum is gaining strength and USD is expected to weaken to test the lower end of the expected 101.20/103.45 consolidation range.”
“At this stage, a break below the bottom of the range appears unlikely but the outlook will shift to bearish is there is a sustained break below 101.20. Short-term resistant is at 102.50."
Key Quotes
"While there is no change to the current neutral view, short-term downward momentum is gaining strength and USD is expected to weaken to test the lower end of the expected 101.20/103.45 consolidation range.”
“At this stage, a break below the bottom of the range appears unlikely but the outlook will shift to bearish is there is a sustained break below 101.20. Short-term resistant is at 102.50."