- Analytics
- News and Tools
- Market News
- USD/JPY: Extra consolidation still on the table – UOB
USD/JPY: Extra consolidation still on the table – UOB
USD/JPY is predicted to keep the 134.75-137.00 range well in place for the time being, noted FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “We highlighted yesterday that USD ‘is likely to drift lower and test 135.10’. We added, ‘the major support at 134.75 is unlikely to come under threat’. However, USD declined more than expected as it dropped to 134.94 before rebounding strongly to end the day little changed at 135.93 (+0.04%). Downward pressure has eased and the current movement appears to be part of a consolidation phase. For today, and USD is likely to trade within a range of 135.30/136.30.”
Next 1-3 weeks: “We continue to hold the same view as from Tuesday (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
