- Analytics
- News and Tools
- Market News
- USD/JPY: Extra losses remain in the pipeline – UOB
USD/JPY: Extra losses remain in the pipeline – UOB
FXStreet reports that FX Strategists at UOB Group still see USD/JPY facing downside risks in the next weeks.
24-hour view: “We highlighted yesterday that ‘risk for USD is on the downside but 106.60 could be strong enough to check any weakness’. While USD did not take out 106.60, the robust recovery from 106.84 was not expected. Downward pressure has dissipated and the current movement is viewed as part of an on-going consolidation phase. In other words, USD is expected to trade sideways for today, likely between 107.10 and 108.05.”
Next 1-3 weeks: “USD eked out a fresh 5-month low of 106.84 yesterday (04 Mar) before rebounding strongly. The price action is not out of line with our view from Monday (02 Mar, spot at 107.75) that ‘while further USD weakness is not ruled out, the odds for a sustained drop below 106.30 are not high’. That said, the downside risk remains intact unless USD can take out the ‘strong resistance’ at 108.70 (level was previously at 110.00).”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
