USD/JPY: Next support of note comes at 129.80 – UOB – by pabspiovano USDJPY Currencies Majors Banks
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, further decline in24-hour view: “Our view for USD to trade sideways was incorrect as it plunged to 130.52 before rebounding to close at 131.31 . The rapid decline is oversold but with no sign of stabilization yet, USD is likely to test the major support at 130.45. A sustained drop below this level is unlikely today . On the upside, a breach of 132.00 would suggest the weakness in USD has stabilized.
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.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY shows resilience around 131.00 mark as market awaits Fed’s next moveUSD/JPY hovers around the 131.00 mark during Tuesday's Asian session, maintaining its bearish bias. Although US Treasury (UST) bond yields received a
Read more »
Trading Support and Resistance \u2013EUR/USD, USD/JPYThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »
USD/JPY Price Analysis: Looks set for further downside below 131.50The USD/JPY pair has corrected sharply below 132.00 in the Asian session. The appeal for the Japanese Yen as a safe-haven has improved amid potential
Read more »
USD/JPY to plummet toward the 125 level – Danske BankEconomists at Danske Bank expect the USD/JPY pair to plunge toward the 125 mark in the next three months. BoJ tightening and valuation to send USD/JPY
Read more »
USD/JPY back below 131.50 mark as focus shift to upcoming FOMC meetingThe USD/JPY closely following the short end of the US Treasury (UST) yield curve, as diminishing demand for the US Dollar weighs on the pair. This com
Read more »
USD/JPY Price Analysis: Bears eye a break of 131.20As per the prior analysis, USD/JPY Price Analysis: Bulls need to show up or 131.00 is a viable target, the bears moved in to capitalize on failures to
Read more »