Fx News

USD/JPY is now seen within 129.50-133.50 – UOB

Business meeting concept. Group of engineer. HUD. Head up Display. GUI. Graphical User Interface.

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, in addition consolidation may want to inspire USD/JPY to exchange between 129.50 and 133.50 in the subsequent few weeks.

Key Quotes
24-hour view: “USD soared as it surged to a excessive of 132.71 earlier than easing off to shut greater via 1.24% (132.62). The pullback from the excessive amid overbought prerequisites suggests USD is not going to increase a whole lot further. Today, USD is probable to change sideways between 131.30 and 132.80.”

Next 1-3 weeks: “On Tuesday (Jan 3) the USD dropped to 129.50 earlier than unexpectedly recovering. Downward strain seems to have eased and USD has probable moved into a consolidation phase. From here, USD is probable to change between 129.50 and 133.50 for a duration of time.”

Related posts
Fx News

USD/CHF Price Analysis: Slides below 200-HMA but 0.9045 appears a tough nut to crack for bears

USD/CHF is facing selling pressure and has reached an intraday low of 0.9060, snapping a two-day…
Read more
Fx News

Natural Gas Price Analysis: XNG/USD recovers to $2.35 on softer US Dollar as US inflation looms

Natural Gas Price (XNG/USD) continues its rebound and is trading near the intraday high around…
Read more
Fx News

BoJ’s Wakatabe: The central bank communication would be very interesting

Bank of Japan (BoJ) policymaker Masazumi Wakatabe expressed his views in a Bloomberg TV interview on…
Read more
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you.

Leave a Reply

Your email address will not be published. Required fields are marked *