- Analytics
- News and Tools
- Market News
- USD/JPY: Outlook remains neutral near term – UOB
USD/JPY: Outlook remains neutral near term – UOB
According to UOB Group’s FX Strategists, USD/JPY is now seen navigating the 114.80-115.90 range in the next weeks.
Key Quotes
24-hour view: “Yesterday, we highlighted that USD ‘is likely to edge lower even though it is unlikely to challenge the major support at 114.40’. USD subsequently dropped 1 pip below 114.40 (low of 114.39) before staging a surprising sharp advance (high has been 115.69). The advance appears to be running ahead of itself and further USD strength is unlikely. For today, USD is more likely to trade between 115.10 and 115.70.”
Next 1-3 weeks: “In our latest narrative from Tuesday (22 Feb, spot at 114.75), we highlighted that there is room for USD to edge lower but it has to break 114.40 before a more sustained decline can be expected. Yesterday (24 Feb), USD dipped to 114.39 before soaring to a high of 115.69. The breach of our ‘strong resistance’ level at 115.30 indicates that the mild downward pressure has eased. The outlook appears to be neutral now and USD is expected to trade within a range of 114.80/115.90.”
© 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
