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3 Mar 2015
USD/JPY short-term upside momentum improving – UOB
FXStreet (Barcelona) - Analysts at UOB Group, suggest that USD/JPY needs to climb above 120.50 to see a sustained up-move, with the short-term momentum for the pair continuing to improve.
Key Quotes
“Short-term momentum for USD continues to improve but in order to see a sustained up-move in the coming days, USD has to move clearly above last month’s high near 120.50. Otherwise, the current movement could just be part of a broad sideway range.”
“That side, only a move back below 119.20 would indicate that the shortterm upward pressure has eased.”
Key Quotes
“Short-term momentum for USD continues to improve but in order to see a sustained up-move in the coming days, USD has to move clearly above last month’s high near 120.50. Otherwise, the current movement could just be part of a broad sideway range.”
“That side, only a move back below 119.20 would indicate that the shortterm upward pressure has eased.”