#USDJPY @ 134.727 : Risks remain tilted to the downside – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER 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_level1)]
Downward bias continues to pick up pace in USD/JPY comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
24-hour view: “While we expected USD to weaken yesterday, we indicated that ‘a clear break of last week’s low near 133.50 is unlikely’. USD dropped briefly to 133.73 in early NY trade and then rebounded. USD appears to have moved into a consolidation phase and it is likely to trade in a range of 134.00/135.00 today.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (11 May, spot at 134.20). As highlighted, while downward momentum is building again, the likelihood of USD dropping to 133.00 has not increased much. On the upside, a break of 135.50 (no change in ‘strong resistance’ level) would indicate 133.00 is not coming into view.”
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
