USD/JPY keeps the bearish outlook near term – UOB

FXStreet (Edinburgh) - In view of strategists at UOB Group, spot keeps the bearish stance in the short-term.

Key Quotes

“The sudden and sharp rebound yesterday has clearly dented the downward momentum in USD”.

“However, confirmation of a low is only upon a break of the stop-loss at 118.40. Those who are shorts from last week may likely to book profit on any dip close to 116.45”.