USD/JPY looks range bound in the short term – UOB – by pabspiovano USDJPY Currencies Majors Banks
is now expected to navigate within 136.60-139.00 range in the next weeks, noted FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “While we expected USD to strengthen yesterday, we were of the view that ‘a sustained rise above 138.60 is unlikely’. USD subsequently rose to a high of 138.87 before staging a surprisingly sharp sell-off . The rapid drop could extend but in view of the oversold conditions, the major support at 136.60 is unlikely to come under threat .
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