Neutral outlook on USD/JPY from UOB.

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UOB provided its neutral outlook on USD/JPY today. “USD registered a range of 99.08/106.81 or roughly 770 pips. This is the single largest daily range since October 1998. Near-term outlook is unclear after the extreme movement and we do not have a firm view except that trading is likely to be confined within the 99.08/106.81 range (which is not much of a help). Hopefully, the price action over the next few days could offer a better clarity of the outlook for USD.” written in the report.

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