Market news
13.12.2024, 11:38

USD/JPY: The next level to watch is 154.00 – UOB Group

US Dollar (USD) is expected to trade with an upward bias, but is unlikely to reach the major resistance at 153.30. In the longer run, the next level to watch is 154.00, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

Above 153.30, USD/JPY can test 154.00

24-HOUR VIEW: “USD swung in a wide range between 151.00 and 152.79 on Wednesday. Yesterday (Thursday), we highlighted that ‘the choppy price action has resulted in a mixed outlook.’ We also highlighted that USD ‘could trade in range, probably staying within yesterday’s range of 151.00/152.79.’ USD then traded in a narrower range than expected (151.79/152.77), closing at 152.62 (+0.11%). The price action has resulted in a slight increase in momentum. Today, we expected USD to trade with an upward bias, but the major resistance at 153.30 is likely out of reach. Support levels are at 152.30 and 151.80.”

1-3 WEEKS VIEW: “We continue to hold the same view as yesterday (12 Dec, spot at 152.15). As highlighted, there has been a tentative buildup in momentum, and USD ‘could grind higher towards 153.30.’ Looking ahead, should USD break above 153.30, the next level to watch is 154.00.”

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location