- Analytics
- News and Tools
- Market News
- USD/JPY now faces some side-lined trading in the short term – UOB
USD/JPY now faces some side-lined trading in the short term – UOB
In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, the upside pressure in USD/JPY now seems to have lost some traction.
Key Quotes
24-hour view: Last Friday, USD fell sharply, but briefly to 144.43 and then rebounded strongly to close at 146.23 (+0.48%). While USD could rebound further, any advance is likely part of higher trading of 145.40/146.80. In other words, USD is unlikely to break clearly above 146.80.
Next 1-3 weeks: Our latest narrative was from last Thursday (30 Aug, spot at 146.00). At that time, we were of the view that USD “is likely to trade in a range between 144.50 and 147.20.” On Friday, USD dropped briefly to 144.43, and then rebounded strongly. The price actions reinforce our view, and we continue to expect USD to trade in a range between 144.50 and 147.20.
© 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
