USD/JPY: Risks a probable drop to 126.35 – UOB – by pabspiovano USDJPY Currencies Majors Banks
to retest the 126.35 level in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “We highlighted yesterday that ‘downward momentum appears to be slowing and this coupled with deeply oversold conditions suggests USD is unlikely to weaken much further’ and we expected USD to ‘trade between 127.40 and 129.25’. USD subsequently dipped to 127.21, rebounded to a high of 128.86 before closing at 128.54 .
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