It is expected that the USD/JPY hold the range of 126.90-129.40 for now, UOB Group currency strategists Quek Ser Leang and Lee Sue Ann suggest.
key comments
24 hour view: “We expected USD/JPY to move within a range of 128.00/129.00 last Friday. USD/JPY subsequently moved within a wider range than expected (127.72/129.10). More moves are likely further in range, although the slightly firm underlying tone suggests a higher range between 128.00/129.20”.
Next 1-3 weeks: “Our view from last Thursday (April 21, USD/JPY at 128.20) still holds. As highlighted, USD/JPY has probably moved into a consolidation phase and is expected to trade in a range 126.90/129.40 for now. Looking ahead, if USD/JPY approaches 129.40, it would signal the start of the next USD/JPY move higher.”
Source: Fx Street
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.
