USD/JPY downside protected – KBC

FXStreet (Barcelona) - The KBC Bank Research Team expects USD/JPY to maintain the 118-122 range for now.

Key Quotes

“USD/JPY tested the 121.85/122.03 resistance, but a break didn’t occur. The post-Fed setback didn’t change the USD/JPY picture fundamentally.”

“The pair is till captured in a tight sideways pattern around the 120 pivot (118-122). The downside looks a bit better protected short-term.”