- Analytics
- News and Tools
- Market News
- USD/JPY: Risks remain tilted to the downside – UOB
USD/JPY: Risks remain tilted to the downside – UOB
Downward bias continues to pick up pace in USD/JPY comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: “While we expected USD to weaken yesterday, we indicated that ‘a clear break of last week’s low near 133.50 is unlikely’. USD dropped briefly to 133.73 in early NY trade and then rebounded. USD appears to have moved into a consolidation phase and it is likely to trade in a range of 134.00/135.00 today.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (11 May, spot at 134.20). As highlighted, while downward momentum is building again, the likelihood of USD dropping to 133.00 has not increased much. On the upside, a break of 135.50 (no change in ‘strong resistance’ level) would indicate 133.00 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
