- Analytics
- News and Tools
- Market News
- USD/JPY: Look to data next – OCBC
USD/JPY: Look to data next – OCBC
USD/JPY fell further overnight amid the decline in UST yields and broad US Dollar (USD). Pair was last at 151.90 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Risks remain skewed to the downside
“Move lower remains in line with our downside bias. Daily momentum is bearish but decline in RSI moderated. Risks remain skewed to the downside but likely the pace may slow. Near term consolidation is likely.”
“Support at 150.70 (50% fibo), 149.20 (100 DMA). Resistance at 152 (200 DMA), 153.30/70 levels (61.8% fibo retracement of 2024 high to low, 21DMA). Data this week brings jobless rate, retail sales and Tokyo CPI. Hotter print on Tokyo CPI may further fuel JPY bulls.”
© 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
