- Analytics
- News and Tools
- Market News
- USD/JPY: Further range bound likely in the short term – UOB
USD/JPY: Further range bound likely in the short term – UOB
According to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, USD/JPY is now seen navigating within the 134.75-137.00 range in the next weeks.
Key Quotes
24-hour view: “Our expectations for USD to edge higher did not materialize as it traded between 135.51 and 136.36. The underlying tone has weakened somewhat and USD is likely to drift lower from here. However, any decline is likely limited to a test of 135.10. The major support at 134.75 is unlikely to come under threat. Resistance is at 135.90 followed by 136.20.”
Next 1-3 weeks: “We continue to hold the same view as yesterday (05 Jul, spot at 135.95). As highlighted, the current movement appears to be part of a broad consolidation phase and USD is likely to trade between 134.75 and 137.00 for now.”
© 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
