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USD/JPY bearish below 107.50 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Spot could accelerate its downside in case of a break below 107.50, according to analysts at UOB Group.

    Key Quotes

    “We turned neutral USD last Friday after our stop-loss was triggered at 109.60 (high of 109.73)”.

    “The sharp drop upon opening in Sydney was clearly unexpected. The downside risk is increasing quickly and a daily closing below 107.50 would indicate a resumption of the bearish trend”.

    “The odds for such a move appear to be quite high unless this pair can reclaim 109.40 in the next few days”.
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