- Analytics
- News and Tools
- Market News
- USD/JPY: Room for further losses near term – UOB
USD/JPY: Room for further losses near term – UOB
There is still some chances that USD/JPY could weaken further in the near term, comment UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.
Key Quotes
24-hour view: “We highlighted yesterday that the outlook is mixed and we expected USD to trade in a choppy manner between 132.30 and 134.30. We did not anticipate the sharp drop to 131.71 and the strong bounce from the low (USD closed higher by 0.24% at 133.72). The outlook remains mixed and today, we expect USD to trade in a broad range between 132.50 and 134.50.”
Next 1-3 weeks: “We continue to hold the same view as yesterday (16 Mar, spot at 133.40) where while there is scope for USD to weaken further, the major support at 131.50 is unlikely to come into view so soon. Note that USD dropped briefly to 131.71 in early NY trade before rebounding strongly. Overall, only a breach of 135.10 (no change in ‘strong resistance’) would indicate that 131.50 is not coming into 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
