USD/JPY: Next resistance of note comes at 119.70 – UOB By pabspiovano USDJPY Currencies Majors Banks
Key Quotes
Next 1-3 weeks: “We have expected a stronger USD since last Thursday . As USD soared, in our latest narrative from Tuesday , we highlighted that USD strength could continue for a while more. We added, a break of 118.65 would shift the focus to 119.10. Yesterday , USD cracked 118.65 and soared to 119.12. Further USD strength is not ruled out but overbought conditions suggest that the current rally may take a pause first. Looking ahead, the next resistance above 119.10 is at 119.70.
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