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28 Nov 2013
Flash: USD/JPY has 103.74 in it’s sights – UOB Group
FXstreet.com (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group comments that the next USD/JPY target at 103.74 will likely come under threat sooner than expected
Key Quotes
“The high of 102.28 early this morning came close to the bullish target highlighted at 102.53 on Monday.”
“The strong upward momentum suggests that a break above this level is likely and the next target at 103.74 (this year’s high) will likely come under threat sooner than expected.”
“The key support has moved higher quickly to 101.00 and as long as this level is intact for the next few days, a break of 102.50/55 could be the trigger for a sharp acceleration towards the year’s high at 103.74.”
Key Quotes
“The high of 102.28 early this morning came close to the bullish target highlighted at 102.53 on Monday.”
“The strong upward momentum suggests that a break above this level is likely and the next target at 103.74 (this year’s high) will likely come under threat sooner than expected.”
“The key support has moved higher quickly to 101.00 and as long as this level is intact for the next few days, a break of 102.50/55 could be the trigger for a sharp acceleration towards the year’s high at 103.74.”