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Forex

USD/JPY Exchange Rate Supported Amid Bearish Trend

Guavy AI Editorial Team
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USD JPY
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The USD/JPY exchange rate remains supported after testing the 157.30 area, according to Quek Ser Leang and Lee Sue Ann from United Overseas Bank.

They expect short-term price action to stay within a 156.90-157.80 range.

The Japanese Yen maintains its near-term bearish trend against the US Dollar on Tuesday, with the USD/JPY pair trading in the mid-157.00s at the time of writing.

Bulls aim for a previous support area just above 158.00 and the key 200-day Simple Moving Average (SMA) at 157.45.

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