USD/JPY next big target at 109.00 – UOB Group

FXStreet (Edinburgh) - Quek Ser Leang, Maket Strategist at UOB Group, sees the next big barrier for the pair at 109.00.

Key Quotes

“While USD is very strong here, the up-move is severely overstretched and any further up-move will likely be at a slower pace and the next resistant at 109.00 is likely difficult to break for today”.

“On the downside, only a break back below 108.00 would indicate that a temporary top is in place”.