USD/JPY could test 109.70 – UOB

The research team at UOB Group sees USD/JPY could reach the 109.70 area in the next 1-3 weeks.

Key Quotes

“The unexpected break above 108.00 is a good indication that the current rebound has scope to extend higher to 109.70”.

“Support is at 107.60 but only a move below 107.20 would indicate that our bullish expectation is wrong”.