- Analytics
- News and Tools
- Market News
- USD/JPY: Uptrend finished? - UOB
USD/JPY: Uptrend finished? - UOB
FXStreet reports that FX Strategists at UOB Group suggest that USD/JPY could have now likely moved into a consolidative phase within the 110.30-111.7 range.
24-hour view: “We expected USD to weaken last Friday but we were of the view that ‘a break of the strong support at 111.10 appears unlikely’. We indicated that the next support is at 110.80. The subsequent weakness exceeded our expectations as USD dropped to 110.89. Downward momentum has not improved by much but USD could edge lower and test 110.80 first before the risk of a rebound would increase. Resistance is at 111.20 followed by 111.35.”
Next 1-3 weeks: “USD subsequently cracked the ‘strong support’ level at 111.10 (low of 110.89). The USD strength that started more than a week ago has come to an end. The current movement is viewed as the early stages of a consolidation phase and USD is likely to trade between 110.30 and 111.70 for now.”
© 2000-2025. 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.
