- Analytics
- News and Tools
- Market News
- USD/JPY: Likely to trade in a range of 148.65/152.00 – UOB Group
USD/JPY: Likely to trade in a range of 148.65/152.00 – UOB Group
The US Dollar (USD) is expected to consolidate in 149.65/150.65 range. In the longer run, USD weakness appears to have stabilised; it is likely to trade in a range of 148.65/152.00 for now, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
USD weakness appears to have stabilised
24-HOUR VIEW: “On Wednesday, USD rose to 151.22, and then pulled back. Yesterday (Thursday), when USD was at 150.35, we highlighted that ‘the pullback from the high could extend below 149.65 before stabilisation can be expected.’ Our view was not wrong, as USD dropped to 149.64, recovering to close at 150.08 (-0.35%). USD appears to have entered a consolidation phase. Today, we expect USD to trade in a 149.65/150.65 range.”
1-3 WEEKS VIEW: “After holding a negative view in USD for two weeks, we revised our outlook to neutral yesterday (05 Dec, spot at 150.35). We indicated that ‘USD weakness appears to have stabilised.’ We also indicated that ‘the current price movements are likely the early stages of a range trading phase, probably between 148.65 and 152.00.’ Our expectations remain unchanged.
© 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
