- Analytics
- News and Tools
- Market News
- USD/JPY: Extra gains in store beyond 145.00 – UOB
USD/JPY: Extra gains in store beyond 145.00 – UOB
Further gains in USD/JPY should leave behind the 145.00 region in the next weeks, suggest FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “Yesterday, we expected USD to ‘consolidate and trade between 141.90 and 143.50’. USD subsequently dipped below 141.90 (low of 141.83) before staging a sharp rally to 144.68 during NY session. Further USD strength appears likely even though overbought conditions suggest a sustained rise above 145.00 is unlikely. The next resistance at 145.50 is unlikely to come into view. Support is at 144.00 followed by 143.70.”
Next 1-3 weeks: “Two days ago (12 Sep, spot at 142.80), we highlighted that the recent 2-week USD strength has ended and we expected USD to consolidate and trade within a range of 140.80/144.60. Yesterday, USD surged to a high of 144.68 before closing at 144.55. Upward momentum has improved but USD to close above the major resistance at 145.00 below further advance is likely. If USD closes above 145.00, it could trigger an advance to 145.50, 146.00. On the downside, a break of 143.30 would indicate that USD is not ready to move above 145.00 in a sustained manner.”
© 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
