Currency strategists at UOB Group still see the USD / JPY moving in the range of 109.30-110.55 on the short-term horizon.
Featured Comments
24 hour view: “We highlighted yesterday that ‘the downward pressure has eased’ and we expected USD / JPY to ‘trade sideways within a range of 109.50 / 110.00’. Instead of moving sideways, USD / JPY rose to 110.12 before closing. with a firm tone at 109.99 (+ 0.34%). Momentum to the upside is starting to build and USD / JPY could advance to 110.25. Higher resistance at 110.55 is not expected to enter the scene. Support is at 109.85, followed by 109.70. “
Next 1-3 weeks: “Our narrative from last Thursday (Aug 19, USD / JPY at 109.90) still stands. As highlighted, USD / JPY could move within a range of 109.30 / 110.55 over a period of time.”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
