USD/JPY: Further consolidation in the pipeline – UOB – by pabspiovano USDJPY Currencies Majors Banks
is still seen navigating the 140.00-143.30 range for the time being, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: Our view for USD to weaken yesterday was incorrect. Instead of weakening, USD rebounded to a high of 142.59. Upward momentum has improved a tad, and today, USD is likely to edge higher. However, any advance is not expected to threaten the major resistance at 143.30 . On the downside, if USD breaks below 141.
Next 1-3 weeks: Yesterday , we highlighted that “the recent buildup in upward pressure has faded” and we expected USD to” trade in a broad range of 140.00/143.30 for now.” There is no change in our view. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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