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USD/JPY Most Overbought Since 2016

JPY

USD/JPY's strength today running into some resistance at the Friday highs of 108.64. A clean break through here would open 109.00 initially ahead of 109.56, the 61.8% retracement of the Mar 2020 - Jan downleg.

  • Momentum studies are flashing overbought for the pair, with the RSI now at its highest levels since late 2016 - during which the USDJPY rate rallied from ~Y105 to ~Y119

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