#USDJPY @ 135.731 now points to further range bound – 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)]
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, USD/JPY remains poised to extend the 134.50/137.10 range in the next few weeks.
24-hour view: “We expected USD edge lower yesterday but we were of the view that ‘a sustained decline below 135.50 is unlikely’. Our view was not wrong as USD dropped to 135.36 before rebounding to end the day little changed at 135.91 (+0.04%). USD appears to have moved into a consolidation phase and it is likely to trade in a range of 135.60/136.35 today.”
Next 1-3 weeks: “Our update from yesterday (06 Mar, spot at 135.90) still stands. As highlighted, the recent USD strength has ended. USD appears to have moved into a consolidation phase and it is likely to trade within a range of 134.50/137.10 for now.”
[/s2If]
Join Our Telegram Group
