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18 Mar 2015
USD/JPY might break 122.00/05 – UOB
FXStreet (Barcelona) - Analysts at UOB Group anticipate that USD/JPY might break 122.00/05 and move higher towards 123.00 levels.
Key Quotes
“USD has been trading sideways since making a high of 122.00/05 early last week.”
“While the prolonged consolidation phase has resulted in waning upward momentum, the undertone is still clearly positive and we continue to expect an eventual break above 122.00/05 for a move towards 123.00.”
“Trailing stop-loss is still at 120.30 but last week’s low near 120.60 is already a very strong support”
Key Quotes
“USD has been trading sideways since making a high of 122.00/05 early last week.”
“While the prolonged consolidation phase has resulted in waning upward momentum, the undertone is still clearly positive and we continue to expect an eventual break above 122.00/05 for a move towards 123.00.”
“Trailing stop-loss is still at 120.30 but last week’s low near 120.60 is already a very strong support”