USD/JPY climb likely slowing down - UOB Group

FXStreet (Łódź) - The Market Strategy Team at UOB Group remark that due to the extremely overbought conditions USD/JPY is expected to advance at a slower pace.

Key Quotes

"Any further gain will likely be at slower pace and prone to quick and sharp pull-back."

"From a mid-term perspective, only a break below the key support at 113.40 would indicate that a temporary top is in place."

"Otherwise, further up-move towards 115.80 is expected."