USD/JPY likely to remain under pressure; sell rallies

  • USD/JPY is likely to extend losses in the near-term as speculators continue to cover short JPY positions
  • Many traders expected further MonPol easing by the BoJ, but the central bank only expanded its programme slightly, by increasing its ETF purchases
  • USD/JPY remains a sell-on-rallies
  • Immediate resistance is seen at 101.45/50 and will likely attract decent selling interest
  • Strong resistance noted at 102.00 and 102.70

USDJPY

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