USD/JPY rangebound most likely – UOB

FXStreet (Edinburgh) - The research team at UOB Group believes the pair could keep the 116.45-118.00 range in the near term.

Key Quotes

“The breach of 118.00 indicates that the bearish USD phase that started on 05 January (spot: 119.35) has ended”.

“We hold a neutral view now and expect this pair to trade in a broad range between 116.45 and 118.80 in the coming days”.