USD/JPY now risks a drop to the 137.70 region – UOB – by pabspiovano USDJPY Currencies Banks Majors
to retest the 137.70 region in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “While we expected a lower USD yesterday, we did not expect a break of the strong support at 140.30. However, USD cracked 140.30 and plunged to a low of 139.15. Impulsive downward momentum indicates further decline. The level to watch is at 138.50, followed by 137.70. The latter level is unlikely to come into view today. Resistance is at 139.
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