- Analytics
- News and Tools
- Market News
- USD/JPY faces initial resistance at 110.25 - UOB
USD/JPY faces initial resistance at 110.25 - UOB
FXStreet reports that FX Strategists at UOB Group note that the upside momentum in USD/JPY is seen meeting initial hurdle at the 110.25 level in the next weeks.
24-hour view: “USD subsequently popped to 110.19 before easing. Deeply overbought conditions suggest that USD is unlikely to strengthen further. For today, USD is more likely to consolidate and trade between 109.50 and 110.05.”
Next 1-3 weeks: “There is not much to add to our update from last Friday (28 May, spot at 109.90). As indicated, strong boost in momentum suggests further USD strength. Resistance is at 110.25 followed by 110.55. USD subsequently popped to 110.19 before pulling back. Overbought shorterterm conditions could lead to a couple of days of consolidation first. Only a break of 109.30 (‘strong support’ level was at 109.15 last Friday) would indicate that the upside risk has dissipated.”
© 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
