USD/JPY supported around 118.45/25 – TDS

By FXStreet FXStreet (Edinburgh) – According to strategists at TD Securities, USD/JPY could be well supported in the 118.45/25 band.

Key Quotes

“Positions are lighter as some latent longs have been unwound on the drop from above 125 to last week’s panic low of 116.18”.

“This backdrop leaves scope for a sustained response, although we may need to get Monday’s US holiday out of the way before any market reaction gains traction”.

“Ahead of this, we currently see support in the 118.25/45 region while 117.81 may also provide some backing”.
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Source:: FX Street