USD/JPY: Diminishing bets for a move above 133.00 – UOB – by pabspiovano USDJPY Currencies Majors Banks
Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group note that the likelihood of24-hour view: “We expected USD to trade between 130.20 and 132.20 yesterday. We did not anticipate the sharp decrease inas USD traded within a relatively narrow range of 130.59/131.53. The underlying tone has firmed but while USD is likely to edge higher, a break of 132.20 is unlikely. Support is at 131.00, followed by 130.65.”for USD is still positive, the prospect of it rising to 133.
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