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USD/JPY: A drop to 108.90 stays on the cards - UOB

FXStreet reports that FX Strategists at UOB Group suggest that USD/JPY risks a potential decline to the 108.90-region in the next weeks.

24-hour view: “Despite the rapid drop, downward momentum has not improved by much and USD is unlikely to weaken much further. For today, USD is more likely to trade between 109.20 and 109.60.”

Next 1-3 weeks: “There is not much to add to our update from Wednesday (10 Jun, spot at 109.40). As highlighted, USD is under mild downward pressure and could drift lower to 108.90. On the upside, a break of 109.85 would indicate that the current mild downward pressure has eased.”

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Currencies. Daily history for Friday, June 11, 2021
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