USD / JPY Analysis

USD / JPY Analysis

According to FX Strategists at the UOB Group, USD / JPY may return to the 106.25 level in the coming weeks. 24-hour outlook: “The sudden drop in the USD was an unexpected surprise. The 106.76 level (-0.44), the biggest 1-day drop in 1-1 / 2 months, dropped to 106.67 before closing. Despite the relatively large decline, the downward momentum did not recover that much. However, there is a space for the USD to decline to 106.50 (next support at 106.25). Resistance can be monitored at 107.05. " The next 1-3 weeks: “The same view has been defended since Wednesday, when the USD outlook was mixed. After a quiet trading week for about a week, the USD fell below the expected range yesterday (106.67). With the momentum going down, the USD could further decline, but given the new accumulation in momentum, any weakness could force it to fall below 106.25. On the upside, there is only a break above 107.50. "