USD/JPY now points to further range bound – UOB – by pabspiovano USDJPY Currencies Majors Banks
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 . 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 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.”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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