- Analytics
- News and Tools
- Market News
- USD/JPY: Shrinking bets for a move to 111.35 - UOB
USD/JPY: Shrinking bets for a move to 111.35 - UOB
FXStreet reports that FX Strategists at UOB Group suggest that a move to the 111.35 level in USD/JPY now seems to be losing traction.
24-hour view: “... Our expectations for USD to ‘edge higher’ last Friday was wrong as it dropped to 110.47 before snapping back up. The price actions have resulted in a mixed outlook and USD could trade between 110.50 and 111.00 for today.”
Next 1-3 weeks: “USD dropped to 110.47 last Friday before rebounding quickly. Upward momentum has been dented and the chance for USD to advance to 111.35 has diminished. In order to rejuvenate the flagging momentum, USD has to move and stay above 111.00 within these 1 to 2 days or a break of 110.40 (no change in ‘strong support’ level) would not be surprising.”
© 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
