- Analytics
- News and Tools
- Market News
- USD/JPY: Upside bias remains unchanged – UOB
USD/JPY: Upside bias remains unchanged – UOB
Extra gains could push USD/JPY to test the 149.00 region, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: We expected USD to rise to 148.30 yesterday. However, after eking out a fresh high of 147.87, USD dropped to 147.03 before closing at 147.29 (-0.24%). USD appears to have moved into a consolidation phase. Today, we expect USD to trade in a range, likely between 147.00 and 147.80.
Next 1-3 weeks: After USD soared to a high of 147.80, we indicated on Wednesday (06 Sep, spot at 147.70) that USD “is likely to rise further, probably to 149.00.” Since then, USD has not been able to make much further headway on the upside (it eked out a fresh high of 147.87 yesterday before easing). We continue to hold the same view for now. However, if USD breaks below 146.70 (no change in ‘strong support’ level), it would suggest that the recent momentum buildup has faded.
© 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
