#USDJPY @ 129.802 : Room for further range bound in the near term – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Further consolidation in USD/JPY, likely within the 128.00-130.80 range now appears likely in the near term, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
24-hour view: “After rising to a high of 130.58, USD pulled back sharply and closed at 129.59 (-0.43%). The pullback has room to extend but is unlikely to break the support at 128.00 (there is another support at 128.50). Resistance is at 129.75, followed by 130.10.”
Next 1-3 weeks: “Sharp pullback in USD/JPY is likely to extend to the 55-week exponential moving average near 131.40. (dated 02 Dec 2022, 136.50).”
[/s2If]
Join Our Telegram Group
