UBS sees USD/JPY move to 85 as it says the move higher in the pair can be compared to the move in 1Q, when USD/JPY rallied 9.9% to 83.73 from 76.20 in 42 calendar days between February 1 and March 14. "For the current move, if we take the 77.61 level on Sep. 27 as the starting point, a 9.9% move will push the pair through 85," UBS says. USD/JPY now at 82.77.
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