- Analytics
- News and Tools
- Market News
- USD/JPY: Extra gains seem likely above 148.50 – UOB
USD/JPY: Extra gains seem likely above 148.50 – UOB
Further advance in USD/JPY remains in the pipeline while above the 148.50 level, suggest UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.
Key Quotes
24-hour view: We indicated yesterday that “the bias for USD remains on the upside, but 150.00 is likely out of reach.” We also indicated that “the upside bias will fade if USD breaks below 149.05”. USD did not rise further but traded sideways between 149.13 and 149.66. Further sideways trading appears likely, probably between 149.05 and 149.70.
Next 1-3 weeks: Our update from yesterday (28 Sep, spot at 149.45) is still valid. As highlighted, USD could advance further to 150.00 if it stays above 148.55 (no change in ‘strong support’ level from yesterday). If USD breaks below 148.55, it means that the USD advance that started early this week has ended.
© 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
