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22 Feb 2016
USD/JPY rangebound near-term – UOB
In view of the research team at UOB Group, GBP/USD’s bias in the near-term points to further consolidation.
Key Quotes
“While we continue to hold a neutral view, the sharp drop last Friday is gaining momentum and a daily closing below 112.00 would shift the current neutral outlook to bearish”.
“In the meanwhile, a snap back to higher level will not be surprising but a move above the key resistance at 115.00 is unlikely, at least not for the next several days”.
Key Quotes
“While we continue to hold a neutral view, the sharp drop last Friday is gaining momentum and a daily closing below 112.00 would shift the current neutral outlook to bearish”.
“In the meanwhile, a snap back to higher level will not be surprising but a move above the key resistance at 115.00 is unlikely, at least not for the next several days”.