USD/JPY now seen extending the range bound trade – UOB – by pabspiovano USDJPY Currencies Majors Banks
is expected to keep the 140.00-143.30 range for the time being, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: We did not expect the sharp drop that sent USD tumbling to a low of 141.54 . Downward momentum is beginning to improve. Today, the risk is for USD to weaken further. However, any decline is unlikely to break 140.80 . Resistance is at 142.25, followed by 142.75.
Next 1-3 weeks: Last Friday , we noted that upward momentum is beginning to deteriorate. We added, “the chance of USD rising to 145.00 is decreasing.” In NY trade, USD fell sharply and took out our ‘strong support’ level of 142.00 . The breach of the ‘strong support’ level indicates that the recent buildup in upward pressure has faded. USD could trade in a broad range of 140.00/143.30 for now. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Police Pursuit Of Cadillac CT5 Driver Includes Speeds Above 140 MPH And Hard-Hitting Takedown | CarscoopsThe Cadillac driver led police through backyards too before being slammed into by the chasing officer car auto cars
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, USD/JPY, Cocoa FutMarkets became increasingly bearish this week after Fitch\u2019s downgrade of its US rating, posting an \u201Ceverything selloff\u201D which saw almost every trend rally hit q
Read more »
USD/JPY flat-lines around 141.65 area, just above Friday’s post-NFP swing lowThe USD/JPY pair surrenders its modest Asian session gains to the 142.00 neighbourhood and retreats to the lower end of the intraday range in the last
Read more »
USD/JPY traces mildly bid yields near 142.00, ignores hawkish BoJ concerns ahead of US CPIUSD/JPY traces mildly bid yields near 142.00, ignores hawkish BoJ concerns ahead of US CPI – by anilpanchal7 USDJPY BOJ Fed YieldCurve Inflation
Read more »
EUR/USD seems to have moved into a consolidative phase – UOBEconomist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group suggest EUR/USD could ace some consolidation in the near term. Key Quotes 24-
Read more »
AUD/USD: Dwindling bets for a deeper pullback – UOBIn the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, the prospects for further decline in AUD/USD seems to be losi
Read more »