- Analytics
- News and Tools
- Market News
- USD/JPY: Bias to sell rallies – OCBC
USD/JPY: Bias to sell rallies – OCBC
USD/JPY rebounded overnight, tracking USD rebound. Pair was last seen at 149.77 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Rebound risks not ruled out in the interim
"US administration’s memorandum to limit Chinese investments, toughen Biden’s chip controls over China and Trump’s comments that the tariffs scheduled to hit Canada and Mexico next month were 'on time' and 'moving along very rapidly' saw the bounce in USD."
"Daily momentum is bearish though while there are signs of it waning while RSI rose. Rebound risks not ruled out in the interim but bias to sell rallies. Support at 149.20 (50% fibo), 148.80 before 147 (61.8% fibo). Resistance at 150.50, 151.50 (38.2% fibo retracement of Sep low to Jan high)."
"Narrowing of UST-JGB yield differentials should continue to underpin the broader direction of travel to the downside. Last Fri, Governor Ueda said that yields reflect economic recovery and rising price trend – consistent with BoJ Takata’s earlier comments. Ueda also reiterated that BoJ will raise rate if economic conditions improve as expected."
© 2000-2025. 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.
