USD/JPY still targets 101.10 – UOB

In view of the research team at UOB Group, USD/JPY could still test 101.10 despite the current oversold condition.

Key Quotes

“There is no change to the current bearish USD view. Despite being oversold, the sharp drop from last Friday appears to have room to extend lower to 101.10”.

“Stop-loss remains unchanged at 104.20 for now even though 103.00 is already a strong short-term resistance”.