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USD/JPY needs 110.10 to offset bearish sentiment - UOB Group

FXStreet (Barcelona) - The Market Strategy Team at UOB Group explained the their outlook for USD/JPY.

Key Quotes

"Our target at 110.00 was finally met but the subsequent reversal also took out the key support at 108.90. We believe that the 110.07 high yesterday is an interim top and the current pull-back could extend towards 108.20”.

“Only a reversal back above 110.10 would indicate a continuation of the midterm up-move."

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