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USD/JPY: downside pressure alleviated – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    According to the research team at UOB Group, the pair remains focused on the 112.00 handle in the next weeks.

    Key Quotes

    “As pointed out yesterday, despite the generally negative undertone, we are not convinced that USD is in a bearish phase unless there is a daily closing below 112.00”.

    “The sharp rebound yesterday indicates that the recent downward pressure has eased but it is too early to expect a bullish reversal. For now, we expect this pair to trade in a broad 111.00/114.50 range”.
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