USD/JPY keeps targeting the 134.80 region near term – UOB – by pabspiovano USDJPY Currencies Majors Banks
remains focused on the 134.80 region for the time being, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “Yesterday, we held the view that USD ‘is unlikely to advance much further’ and we expected it to trade sideways between 133.80 and 134.80. Our view of sideways trading was not wrong even though USD traded in a narrower range than expected .
Next 1-3 weeks: “We continue to hold the same view as from Monday wherein while it is too early to expect the start of a sustained advance in USD, it is likely to trade with an upward bias to 134.80. Looking ahead, it has to break clearly above this level before further gains can be expected. The next resistance above 134.80 is at 135.50. Overall, only a breach of 133.00 would suggest that the upward bias has eased.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY keeps targeting the 134.80 region – UOBAccording to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, the upside momentum in USD/JPY remains focused on the
Read more »
USD/JPY: Next on the upside comes 134.80 – UOBFurther upside could prompt USD/JPY to revisit the 134.80 region in the next weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang a
Read more »
USD/JPY eases from over one-month peak, trades with modest gains just below 134.00The USD/JPY pair trims a part of its modest intraday gains to over a one-month high touched earlier this Monday and retreats below the 134.00 mark dur
Read more »
USD/JPY slips below 134.00, fresh daily low amid broad-based USD weaknessThe USD/JPY pair retreats from a nearly five-week high, around the 134.80 region touched earlier this Tuesday and extends its steady intraday descent
Read more »
USD/JPY grinds near 134.00 as US Dollar, yields fail to cheer hawkish Fed betsUSD/JPY picks up bids to pare the previous day’s U-turn from a five-week high around 134.00 as Tokyo opens for Wednesday. In doing so, the Yen pair fa
Read more »
AUD/USD faces further consolidation near term – UOBIn the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, AUD/USD is still seen navigating the 0.6620-0.6785 range i
Read more »