- Analytics
- News and Tools
- Market News
- USD/JPY sticks to the consolidative theme - UOB
USD/JPY sticks to the consolidative theme - UOB
FXStreet reports that FX Strategists at UOB Group note that USD/JPY is still forecasted to trade within a consolidative fashion between 105.50 and 106.90 for the time being.
24-hour view: “We highlighted yesterday USD ‘could consolidate and trade between 106.00 and 106.50’... Momentum indicators are still mostly ‘neutral’ and USD could continue to consolidate for now, likely between 106.05 and 106.50.”
Next 1-3 weeks: “We noted last Thursday (03 Sep, spot at 106.20) that ‘the odds for USD to test the 104.70 have diminished’. We added, ‘a breach of 106.55 would indicate that USD has moved back into a consolidation phase’. While the 106.55 level is still intact, downward momentum has more or less dissipated. In other words, the current price action is likely part of a consolidation phase and USD is expected to trade between 105.50 and 106.90 for a period of time.”
© 2000-2024. 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
