• USD/JPY: Upside momentum improves – UOB

Market news

26 July 2021

USD/JPY: Upside momentum improves – UOB

FXStreet reports that according to FX Strategists at UOB Group, USD/JPY could move higher once 110.90 is cleared.

Next 1-3 weeks: “Our latest narrative was from last Thursday where we highlighted that the outlook is mixed and USD could trade within a 109.50/110.70 range for now. USD subsequently edged higher and upward momentum is beginning to improve. A breach of 110.70 would not be surprising but USD has close above 110.90 before a sustained advance can be expected. The prospect for USD to close above 110.90 is not high for now but would remain intact as long as USD does not move below 109.90 within these few days.”

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