USD/JPY now appears within a consolidation range, likely between 144.50 and 147.20, according to UOB Group’s Economist Lee Sue Ann and Markets Strateg
now appears within a consolidation range, likely between 144.50 and 147.20, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: After USD dropped to 145.66 on Tuesday, we indicated yesterday that “while there is no clear increase in downward momentum, USD could drop below 145.65.” However, we were of the view that “any decline is viewed as part of a broad 145.35/146.70 range.” USD then traded in a narrower range than expected .
Next 1-3 weeks: We continue to hold the same view as yesterday . As highlighted, the recent upward pressure has faded. For the time being, we expect USD to trade in a range between 144.50 and 147.20.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.
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