- Analytics
- News and Tools
- Market News
- USD/JPY: Extra range bound appears in the pipeline – UOB
USD/JPY: Extra range bound appears in the pipeline – UOB
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang expect USD/JPY to trade between 146.65 and 149.30 in the near term.
Key Quotes
24-hour view: Yesterday, we held the view that “there is scope for USD to dip to 146.50 before a more sustained recovery is likely.” However, USD rebounded strongly from 146.82 to 148.51. The strong rebound appears to be overdone, and USD is unlikely to rise further. Today, USD is more likely to trade in a range of 147.00/148.50.
Next 1-3 weeks: After USD plummeted to 146.65 two days ago, we indicated yesterday (30 Nov, spot at 147.10) that “downward momentum is building rapidly, and USD is likely to continue to weaken.” Our view was proven wrong quickly as it rebounded strongly and took out our ‘strong resistance’ at 148.40 (high of 148.51). The momentum buildup has faded. For the time being, USD is likely to trade in a range between 146.65 and 149.30 before heading lower at a later stage.
© 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
