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USD/JPY: Room for further vary hurry in the shut to duration of time – UOB

Additional consolidation in USD/JPY, seemingly within the 128.00-130.80 vary now looks seemingly in the shut to duration of time, per UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour take a look at: “After rising to a excessive of 130.58, USD pulled motivate sharply and closed at 129.59 (-0.43%). The pullback has room to expand however is no longer seemingly to destroy the make stronger at 128.00 (there is but every other make stronger at 128.50). Resistance is at 129.75, adopted by 130.10.”

Subsequent 1-3 weeks: “Piquant pullback in USD/JPY is seemingly to expand to the 55-week exponential appealing moderate shut to 131.40. (dated 02 Dec 2022, 136.50).”

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