- Analytics
- News and Tools
- Market News
- USD/JPY: An advance to 143.00 now appears unlikely – UOB
USD/JPY: An advance to 143.00 now appears unlikely – UOB
Further gains to the 143.00 region in USD/JPY now seems to have lost some momentum, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: Yesterday, we held the view that USD “has likely moved into a consolidation phase”, and we expected it to trade between 140.70 and 141.90. USD then traded in a narrower range than expected (140.84/141.72). The price actions still appear to be consolidative. Today, we expect USD to trade in a range of 140.60/141.65.
Next 1-3 weeks: Our most recent narrative was from Monday (24 Jul, spot at 141.70). We highlighted that “the rapid increase in momentum is likely to lead to USD rising to 143.00.” USD has not been able to make headway on the upside, and the chance of USD rising to 143.00 has decreased. On the downside, if USD breaks below 140.00 (no change in ‘strong support’ level), it would mean that 143.00 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
