USD/JPY might see further downward pressure – UOB

FXStreet (Barcelona) - Analysts at UOB Group, expect USD/JPY to see further patchy downward movement, but remain above 118.55/60 levels.

Key Quotes

“While the support at 118.70 held as expected, the weaker than expected rebound from the low suggests further downward pressure for today. That said, patchy downward momentum will likely limit any further weakness to 118.55/60. Strong resistance is at 119.60.”