USD/JPY still faces upside risks in the near term – UOB – by pabspiovano USDJPY Currencies Majors Banks
is expected to remain bid while above the 134.00 level in the short term.24-hour view: “We highlighted yesterday that ‘despite the strong advance, there has been no significant increase in upward momentum and USD is unlikely to strengthen much further’. We expected USD to consolidate between 134.20 and 135.20. Our view of consolidation was not wrong even though USD traded within a narrower range than expected . Upward momentum has firmed somewhat and USD is likely to edge higher today.
Next 1-3 weeks: “On Monday we highlighted that USD could consolidate for a couple of days before heading higher to the next target at 135.50. It has been a couple of days but there is no sign that USD is ready to head higher to 135.50. However, upward momentum appears to be firm and the risk is still to the upside. Only a break of 134.00 would indicate that the USD strength that started in the middle of last week has come to an end. Looking ahead, if the USD breaks decisively above 135.
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 faces extra consolidation near term – UOBUSD/JPY could likely embark on further consolidation ahead of potential extra gains in the next few weeks, note Markets Strategist Quek Ser Leang and
Read more »
USD/JPY: Risks appear more titled to the upside in the near-term – MUFGAnalysts at MUFG Bank have a neutral bias for the USD/JPY pair and they see it trading in the 128.00 – 138.00 range over the next weeks. They affirm t
Read more »
USD/JPY clings to intraday gains, eyes 135.00 mark amid modest USD strengthThe USD/JPY pair regains positive traction on Tuesday and maintains its bid tone through the first half of the European session. The pair steadily cli
Read more »
USD/JPY bulls eye a continuation as the US Dollar bounces back to lifeUSD/JPY is pressing higher despite the technicals that have been biased to the downside, at least for the meanwhile move into the length that had been
Read more »
USD/JPY pauses three-day uptrend near 135.00 as yields portray anxiety ahead of Fed MinutesUSD/JPY pauses three-day uptrend near 135.00 as yields portray anxiety ahead of Fed Minutes – by anilpanchal7 USDJPY YieldCurve BOJ Fed Macroeconomics
Read more »
USD/JPY Price Analysis: Retreats towards 134.00 key supportUSD/JPY bulls take a breather as the quote drops to 134.70 while printing the mild losses, the first in four days, during early Wednesday. In doing so
Read more »