- Analytics
- News and Tools
- Market News
- USD/JPY: Downside pressure mitigated above 135.10 – UOB
USD/JPY: Downside pressure mitigated above 135.10 – UOB
The selling pressure in USD/JPY is expected to alleviate once the pair surpasses the 135.10 level, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: “Yesterday, we expected USD to trade in a range between 132.70 and 134.50. USD subsequently dipped to 133.02 before rebounding to 134.89. We view the price actions as part of a broad consolidation and expect USD trade between 133.50 and 135.00 today.”
Next 1-3 weeks: “We highlighted yesterday (14 Mar, spot at 133.20) that the sharp increase in downward momentum is likely to lead to further USD weakness. We added, a breach of 135.10 (‘strong resistance’ level) would indicate that USD is not weakening further. In NY trade, USD rebounded to 134.89. While downward pressure has waned somewhat, only a breach of 135.10 would invalidate our view.”
© 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
