The US dollar (USD) could potentially try 145.00 against Japanese Yen (JPY); The main resistance in 145.50 is unlikely to be threatened. In the long term, the USD is expected to be traded in a range between 143.00 and 145.50, the FX analysts of UOB Group, to be Leang and Peter Chia.
The USD probably trades in a range
Vision to 24 hours: “Our opinion on ‘A greater fall in the USD’ last Friday was incorrect. Instead of falling more, the USD bounced strongly to 144.48. The strong rebound has gained impulse, and the USD could potentially try 145.00 today. An increase is not discarded above this level, but the main resistance in 145.50 144.00 and 143.50. “
Vision at 1-3 weeks: “After the sharp fall of the USD last Thursday, we indicated on Friday (June 13, Spot in 143.00) that ‘Not only has the probability of a recovery dissipated, but also increased the possibility that the USD falls to 142.20.’ However, we point out that ‘if the USD breaks above 144.40, would suggest that it could trade in a wide range for a period of time.’ Our opinion was quickly invalidated, since the USD rose to a maximum of 144.48.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
