USD/JPY: Rally could take a breather near term – UOB By pabspiovano USDJPY Currencies Majors Banks
24-hour view: “We highlighted yesterday that ‘conditions are deeply overbought and USD is unlikely to strengthen much further’ and we expected USD to ‘trade sideways within a range of 118.45/119.10’. USD subsequently traded between 118.35 and 119.02. Further sideways appears likely, expected to be between 118.35 and 119.05.”
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