USD/JPY faces extra range bound near term – UOB – by pabspiovano USDJPY Currencies Majors Banks
is likely to extend the 138.50-141.00 range in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.24-hour view: We highlighted last Friday that “there is room for USD to test 138.50 before the risk of a rebound increases”. However, USD rebounded from 138.74 to 139.72 and then traded mostly sideways for the rest of the sessions. The price actions are likely part of a consolidation and today, USD is likely to trade between 139.
Next 1-3 weeks: Our most recent narrative was from last Thursday wherein USD “is likely to trade between 138.50 and 141.00”. There is no change in our view for now.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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