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USD/JPY attempting a consolidation phase? – UOB Group

FXStreet (Edinburgh) - Market Strategist Que Ser Leang at UOB Group, sees the possibility of the pair to commence a consolidation pattern.

Key Quotes

“While we anticipated the short-term USD weakness, the down-move exceeded our 108.45/50 target with a low of 108.26”.

“The subsequent rebound is likely part of a consolidation phase and not the start of the next bullish up-leg. Expect sideway trading today, likely between 108.30 and 109.00”.

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