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- USD/JPY clings to the 110.00-111.15 range – UOB
USD/JPY clings to the 110.00-111.15 range – UOB
FXStreet reports that FX Strategists at UOB Group said that USD/JPY is expected to trade between 110.00 and 111.15 in the next weeks.
Next 1-3 weeks: “We have expected USD to weaken since the middle of last week. After USD rebounded strongly from 109.52, we highlighted yesterday that ‘downward momentum is beginning to wane and a break of 110.55 would indicate that USD is not ready to move below 109.50 just yet’. USD rose to an overnight high of 110.64 and downward momentum has dissipated. From here, USD is likely to trade between 110.00 and 111.15 for a period of time.”
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