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USD/JPY maintains gains, 6-month high

FXStreet (Bali) - USD/JPY is holding onto early gains, with the current exchange rate at 104.21, following a new 6-month high of 101.40 (printed during interbank trading).

With no geo-political headlines sparking flight to safety for now, at the open of Asia on Monday, price was a reflection of the increasingly hawkish views on the Fed, expected to take a more decisive tone towards faster rate hikes, while dovish comments from BoJ's Kuroda, noting that the Central Bank may have to ease policy for 'some time' to slay deflation, kept the Yen pressured.

According to Jim Langlands, Founder at FXCharts: "As long as Russian/Ukraine politics do not get in the way, I think there is plenty of room left yet in the move to the topside." The next target coming into view, Jim notes, "would be the 21 Jan high at 104.74, with not too much to be seen in between."

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