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USD/JPY upside capped at 109.00 – UOB Group

FXStreet (Edinburgh) - Market Strategists at UOB Group expects further gains in the pair to be limited around the 109.00 handle.

Key Quotes

USD failed to break above the strong resistant at 109.45 and the subsequent drop is accompanied by strong momentum and could extend lower towards 108.20/25”.

“Expect any rebound to hold below 109.00”.

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