USD/JPY offered below 108.50 – UOB Group

FXStreet (Edinburgh) - The bearish tone would prevail in USD/JPY while trades below 108.50, suggested Market Analysts at UOB Group.

Key Quotes

“Despite the rebound ahead of the strong support at 107.50 (overnight low of 107.53), the down move appears incomplete”.

“Allow for a recovery towards 108.20 but as long as 108.50 is not taken out, another leg lower to 107.50 is likely by end of the trading day”.

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