- Analytics
- News and Tools
- Market News
- USD/JPY could slip back to the 102.00 region - UOB
USD/JPY could slip back to the 102.00 region - UOB
FXStreet reports that in the opinion of FX Strategists at UOB Group, USD/JPY could recede further and visit the 102.00 zone in the near-term.
24-hour view: “Our expectation for the ‘rebound in USD to edge above 103.30’ was incorrect as it slumped to 102.59 before closing on a soft note at 102.72 (-0.37%). While downward momentum has not improved by all that much, the risk is for USD to weaken further even though 102.30 could be out of reach. Resistance is at 102.90 followed by 103.15.”
Next 1-3 weeks: “Downward momentum has improved and there is room for USD to weaken to 102.30, possibly 102.00. Overall, downward pressure has increased as long as USD does not move above 103.35 (‘strong resistance’ level previously at 103.65).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
