- Analytics
- News and Tools
- Market News
- USD/JPY: Extra gains to 106.00 look likely - UOB
USD/JPY: Extra gains to 106.00 look likely - UOB
FXStreet reports that according to FX Strategists at UOB Group, USD/JPY stays on track to advance further and targets the 106.00 level and probably above in the next weeks.
24-hour view: “Our expectation for USD to ‘test 105.75 first’ was wrong as it eased to a low of 105.05. The underlying has weakened and the bias from here is tilted to the downside. That said, any weakness is unlikely to threaten the strong support at 104.40.”
Next 1-3 weeks: “There is not much to add to our update from Tuesday (10 Nov, spot at 105.15). As highlighted, there is ‘room for the current strong advance in USD to test the major resistance at 106.10’. At this stage, the odds for a sustained rise above this level are not high. On the downside, a break of 104.40 (‘strong support’ level previously at 104.00) would indicate that USD is not ready for 106.10.”
© 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
