USD/JPY keeps the upside momentum well and sound – UOB – by pabspiovano USDJPY Banks Currencies Majors
24-hour view: “Yesterday, we held the view that ‘the rapid improvement in momentum is likely to lead to further USD strength towards 140.00’. We highlighted that ‘a breach of this major resistance is not ruled out’ and ‘the next resistance is at 140.50’. Our view was not wrong as USD soared to a high of 140.22. Further USD strength is likely even though overbought conditions suggest USD may not be able to maintain a foothold above 140.50. On the downside, a breach of 139.
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