- Analytics
- News and Tools
- Market News
- USD/JPY: Dwindling bets for a move above 133.00 – UOB
USD/JPY: Dwindling bets for a move above 133.00 – UOB
Further upside to the area above 133.00 in USD/JPY seems to have lost traction for the time being, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: “We did not anticipate the sharp drop in USD to 130.46 yesterday (we were expecting USD to trade in a range). The rapid drop appears to be overdone and USD is unlikely to weaken much further. Today, USD is more likely to trade between 130.20 and 132.20.”
Next 1-3 weeks: “Our latest narrative was from Monday (06 Feb, spot at 132.30) where the outsized advance in USD last Friday and the corresponding sharp increase in upward momentum suggest it could rise further. We indicated, the levels to watch are at 133.35 and 134.75. While USD subsequently soared to a high of 132.90, it dropped sharply yesterday and closed lower by 1.21% (NY close of 131.05). The price actions suggest the prospect of USD rising to 133.35 has decreased. However, only a breach of 130.20 (no change in ‘strong support’ level) would indicate that USD is not advancing 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
