USD/JPY still faces some range bound trade – UOB

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USD/JPY still faces some range bound trade – UOB
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USD/JPY still faces some range bound trade – UOB – by pabspiovano USDJPY Currencies Majors Banks

is still expected to remain within the 130.50-134.50 consolidative range for the time being, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We highlighted yesterday that the ‘oversold weakness in USD could extend to 131.50 first before stabilization is likely’. We added, ‘the next support at 131.00 is unlikely to come into view’. Our view was not wrong as USD dropped to 131.29 before rebounding.

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