RSS USD/JPY: Unlikely to threaten 156.70 – UOB Group

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 RSS USD/JPY: Unlikely to threaten 156.70 – UOB Group

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Sharp bounce in US Dollar (USD) has room to extend; overbought conditions indicate that any advance is unlikely to threaten 156.70. In the longer run, USD remains weak; if it breaks below 154.90, the next objective will be at 154.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
 
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