- Analytics
- News and Tools
- Market News
- USD/JPY sticks to the consolidative range so far – UOB
USD/JPY sticks to the consolidative range so far – UOB
According to UOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang, USD/JPY should maintain the 130.50-134.50 range for the time being.
Key Quotes
24-hour view: “We highlighted yesterday that ‘Flat momentum indicators suggest further sideways trading, likely between 131.60 and 132.75’. USD subsequently traded within a narrower range of 132.05/132.87 but it opened on a soft note in early Asian trade. Downward momentum is beginning to build and USD is likely head lower. However, a sustained decline below 131.30 appears unlikely (next support is at 130.50). Resistance is at 132.30, a breach of 132.70 would indicate the build-up in downward momentum has fizzled out.”
Next 1-3 weeks: “There is not much to add to our update from Monday (09 Jan, spot at 132.10). As highlighted, after the sharp drop last Friday, USD is likely to trade within a broad range of 130.50 and 134.50 instead of rebounding further.”
© 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
