USD/JPY: Door open to extra upside in the short term – UOB – by pabspiovano USDJPY Currencies Majors Banks
looks likely and with the next target at the 135.00 level and beyond, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We highlighted yesterday that ‘there is room for USD to rise above 134.35’. However, we were of the view that ‘135.00 is likely out of reach’. Our view was not wrong as USD rose to 134.49 in NY trade. While upward momentum has not improved much, the bias for USD remains on the upside.
Next 1-3 weeks: “Our update from yesterday still stands. As highlighted, upward momentum has improved further and USD is likely to continue to advance. The next level to watch is at 135.00, followed by 135.50. On the downside, a break of 132.80 would indicate that the current upward pressure has eased.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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