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3 Dec 2014
USD/JPY might target 119.85 – UOB
FXStreet (Barcelona) - The UOB Group Research Team believes 119.85 level is in sight for USD/JPY as the overnight rally gains momentum.
Key Quotes
“As indicated in yesterday’s update, as long as the trailing-stop at 117.68 continues to hold, further upmove above 119.00 is still a distinct possibility. The overnight rally is gaining momentum rapidly and the next target at 119.85 is likely going to be reached soon. The trailing-stop has moved higher to 118.20.”
Key Quotes
“As indicated in yesterday’s update, as long as the trailing-stop at 117.68 continues to hold, further upmove above 119.00 is still a distinct possibility. The overnight rally is gaining momentum rapidly and the next target at 119.85 is likely going to be reached soon. The trailing-stop has moved higher to 118.20.”