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USD/JPY closer to 109.45 – UOB

FXStreet (Edinburgh) - According to Quek Ser Leang, Market Strategist at UOB Group, the current upside momentum could take the pair to test the 109.45 level and beyond.

Key Quotes

USD traded sideways for most of yesterday before breaking above 109.00 during NY session”.

“The firm momentum suggests that the recent high near 109.45 could be tested and even exceeded today”.

“However, a sustained break above the next resistant at 109.70/75 is unlikely. Any pull-back should hold above 108.85”.

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