USD/JPY: Diminishing bets for extra upside – UOB – by pabspiovano USDJPY Currencies Majors Banks
UOB Group’s Markets Strategist Quek Ser Leang and Senior Economist Alvin Liew note that extra upside in24-hour view: Yesterday, we held the view that “there is room for USD to edge above 142.25 before the risk of a pullback increases.” We stated, “support is at 141.55, followed by 141.10.” USD then rose to 142.25 before falling sharply to a low of 141.20. The current price movements are likely part of a consolidation phase and today, we expect USD to trade between 141.10 and 142.20.
Next 1-3 weeks: Two days ago , we noted that “momentum has increased considerably.” However, we highlighted that USD “has to break and stay above 142.25 before further sustained rise is likely.” Yesterday , USD rose to 142.25 and then pulled back sharply. The ‘failure’ to break clearly above the major resistance at 142.25 combined with the pullback has decreased the odds for further sustained rise in USD. However, only a breach of 140.40 indicates that USD is not advancing further.
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.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
USD/JPY: Sustained advance likely above 142.25 – UOBFurther upside is likely in USD/JPY once the 142.25 level is cleared, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group
Leer más »
Forex Today: Asian Stocks Lower as Chinese Stimulus Hopes FaChinese Stimulus Looking Unlikely; USD/JPY, GBP/USD in Strong Trends; Stocks Weaken in Asia
Leer más »
USD/JPY flirts with YTD peak, bulls now await sustained move beyond 142.00 markThe USD/JPY pair reverses an intraday dip to the 141.45 area and steadily climbs back closer to its highest level since November 2022 touched earlier
Leer más »
USD/JPY hovers around cycle high on low volume sessionThe USD/JPY slightly retreated on Monday to the 141.80 area after hitting a multi-month high on Friday. US traders are celebrating Juneteenth and mark
Leer más »
USD/JPY Price Analysis: Bulls throwing in the towel, 38.2% Fibo eyed?The US Dollar edged higher forcing the Yen into submission at the start of the week at around 141.96 the highs in USD/JPY. The following is a technica
Leer más »
USD/JPY eases after refreshing yearly top above 142.00 as yields dribble amid full marketsUSD/JPY eases after refreshing yearly top above 142.00 as yields dribble amid full markets – by anilpanchal7 USDJPY YieldCurve BOJ Fed RiskAversion
Leer más »