USD/JPY: Still scope for a move above 141.50 – UOB

USD/JPY: Still scope for a move above 141.50 – UOB – by pabspiovano USDJPY Currencies Majors Banks

Key Quotes

Next 1-3 weeks: We highlighted yesterday that “upward momentum appears to be building”. We added, “for USD to advance in a sustained manner, it must break clearly above 141.00”. While USD surged to a high of 141.50, it plummeted from the high. The price actions did not result in any increase in momentum. However, as long as 139.30 is not breached, there is a slim chance for USD to break above 141.50 .

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