Neutral outlook on USD/JPY from UOB.

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UOB is neutral on USD/JPY with an expected range of 112-115. However, the analyst mentioned that a decline below 112 would change their outlook to bearish. According to them a break above the resistance level of 115 is unlikely in a short term.

The pair was trading at 111.7760 as of 06:00 AM EST today. It has lost more than 8% since February 1 highs.

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