USD/JPY is still in the Range of 110,50/112,00 – UOB

FXStreet – The UOB Group team of Analysts is set for the Pair is neutral and you can expect in the next few weeks, a trade between 110,50 and 112,00.

Important Quotes

“In line with expectations, the USD fell to the 110,50 support (night to test the low at 110,45). Despite the recovery from the Deep the underlying sentiment is weak and a Test of the night is deep probably. A resistance lies at 111,05, however, a movement will be back on 111,30 necessary to relieve the downward pressure.”

“The USD fell below the expected consolidation range of 110,50/112,00, since the Low was formed at 110,45, before it came to a quick recovery. While the basic sentiment is weak, it is expected that the with to that the month provides depth in the area of the 110,20 a solid support.”

** FXStreet News Editorial, FXStreet**

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