USD/JPY: A test of 134.40 remains on the cards – UOB – by pabspiovano USDJPY Currencies Majors Banks
revisit the 134.40 region in the next few weeks, note Economist Lee Sue Ann and Market Strategist Quek Ser Leang at UOB Group.24-hour view: “Yesterday, we held the view that USD ‘is unlikely to advance much further’ and we expected it to consolidate and trade between 132.60 and 133.90. Our view of consolidation was not wrong even though USD traded in a narrower range than expected .
Next 1-3 weeks: “Our update from yesterday is still valid. As highlighted, further USD strength is not ruled out but overbought short-term conditions could lead to a couple of days of consolidation first. Overall, as long as 132.20 is not breached, USD could rise to 134.40 later on.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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