The US dollar (USD) could decline even more; Given the deeply overstation with the Japanese Yen (JPY), a clear break below 142.10 seems unlikely. In the long term, for a sustained fall, the USD must first close below 142.10, indicate the FX analysts of UOB Group, to be Leang and Peter Chia.
The USD must close below 142.10 to decline more
24 -hour vision: “Although we notice yesterday that ‘the low -up momentum has increased slightly’, we indicate that ‘instead of a sustained fall, the USD is more likely to be negotiated in a lower range than 143.25/144.30.’ The sudden acceleration on the decline that made the USD fall to 142.52 was surprising. It is in 143.00), it would be an indication that weakness is stabilizing. “
Vision 1-3 weeks: “Last Friday (May 30, Spot in 143.95), we indicate that ‘after wild oscillations, the USD perspective is uncertain.’ We add, ‘At the moment, the USD could be negotiated within the wide range of last week, between 142.10 and 146.30.’ Yesterday, the USD fell to 142.52.
Source: Fx Street
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