The US dollar (USD) will probably consolidate in a range of 142.20/144.00. In the long term, the USD has probably entered a consolidation phase and it is likely to operate between 142.20 and 146.70 for now, FX analysts point out UOB GroupTo be Leang and Peter Chia.
USD/JPY has probably entered a consolidation phase
24-hour vision: “Yesterday, we expected the USD to operate in a range of 143.40/144.85. However, the USD collapsed and closed in 142.41 (-0.90%). The USD bounced strongly after the closure of NY. Expected for today: 142.20/144.00. “
Vision at 1-3 weeks: “The following are extracts of our update yesterday, May 6, when the USD was in 144.00: ‘The initial rebound since the minimum of the end of April 139.86 has been strong, but the ascending impulse since then has slowed down. The USD has probably entered a consolidation phase, and it is likely that it operates between 142.20 and 146.70 for now. Our update continues.
Source: Fx Street
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