USD/JPY risks a drop to 128.30 – UOB By pabspiovano USDJPY Currencies Majors Banks
24-hour view: “We expected USD to ‘trade between 129.60 and 130.35’ yesterday. USD rose to 130.37 during NY session before plunging sharply to a low of 128.61. The rapid decline appears to be overdone and USD is unlikely to weaken further. For today, USD is more likely to consolidate and trade between 128.60 and 129.80.”
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