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27 May 2014
USD/JPY outlook improving - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group noted the outlook for USD/JPY is improving but only a break above 102.15 will indicate further strength.
Key Quotes
"The sharp rebound from the low of 101.81 is picking up momentum but the outlook will shift to bullish only upon a break above the falling trend-line resistant at 102.15 (targeting a move towards 102.80). In the meanwhile, short-term pressure is clearly on the upside and only a move back below 101.35 will suggest another attempt below 101.0."
Key Quotes
"The sharp rebound from the low of 101.81 is picking up momentum but the outlook will shift to bullish only upon a break above the falling trend-line resistant at 102.15 (targeting a move towards 102.80). In the meanwhile, short-term pressure is clearly on the upside and only a move back below 101.35 will suggest another attempt below 101.0."