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USD/JPY needs daily close below 119.50 - UOB

FXStreet (Guatemala) - Analysts at UOB Group noted that USD/JPY has broken the key 119.50 support but confirmation of a daily close is required.

Key Quotes:

"A break below this level would indicate that the neutral consolidation phase that started in late August has ended."

"In other words, USD appears to be on the cusp of making a break lower but confirmation is only upon a daily close below 119.50. On the upside, USD has to move back above 120.05 to alleviate the downside risk."

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