10 Mar 2015
USD/JPY break above 121.85 targets 123.00 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, view that upward momentum for USD/JPY remains strong, and a move above 121.85 would open up 123.00 level.
Key Quotes
“As we highlighted yesterday, the break of the key 120.50 resistance last Friday signals the start of a bullish USD phase targeting last year’s high near 121.85.”
“In line with our expectations, USD continues to gain ground touching a high of 121.60 as of the time of writing.”
“Upward momentum is clearly very strong at this stage and a move above 121.85 will shift the focus to 123.00.”
“Trailing-stop is still at 119.60 for now but 120.30 is already a strong support.”
Key Quotes
“As we highlighted yesterday, the break of the key 120.50 resistance last Friday signals the start of a bullish USD phase targeting last year’s high near 121.85.”
“In line with our expectations, USD continues to gain ground touching a high of 121.60 as of the time of writing.”
“Upward momentum is clearly very strong at this stage and a move above 121.85 will shift the focus to 123.00.”
“Trailing-stop is still at 119.60 for now but 120.30 is already a strong support.”