Current price movements seem to be part of a negotiation phase between 144.05 and 145.00. In the long term, the US dollar (USD) seems to have entered a negotiation phase in rank between 143.50 and 146.50 in front of the Japanese Yen (JPY), the FX analysts of UOB Group, quek be Leang and Peter Chia point out.
The USD has entered a negotiation phase in range between 143.50 and 146.50
24 hours seen: “The USD fell to a minimum of 143.73 last Thursday and then bounced strongly. On Friday, we indicated that the USD ‘could continue bouncing, but any advance is unlikely that it clearly breaks above 145.55.’ We also point out that ‘support levels are in 144.35 and 144.00.’ Our expectations did not materialize, since the USD was negotiated in a range of 144.17/144.94 before closing at 144.65 (+0.19%).
Perspective 1-3 weeks: “In our last narrative last Wednesday (June 25, for 144.85), we indicate that the USD ‘seems to have entered a negotiation phase in the rank, and it is likely that between 143.50 and 146.50 at the moment. We continue to maintain the same vision for now. “
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.
