The US dollar (USD) probably trades in a range of 142.95/144.40 against Japanese Yen (JPY). In the long term, the price action suggests that the USD is still negotiating in a range, most likely between 142.10 and 145.50, the FX analysts of UOB Group, quek being Leang and Peter Chia point out.
The price action suggests that the USD is still being negotiated in a range
24 -hour perspective: “The USD abruptly fell to 142.58 on Wednesday. Yesterday, Thursday, when it was in 142.75, we indicate that ‘there is room for the USD to continue weakening, although the main support in 142.10 is unlikely that it is in danger (there is another support in 142.35). Our opinion was incorrect, since the USD fluctuated in a range of 142.52/143.97.
Perspective 1-3 weeks: “Our most recent narrative was two days ago (June 4, for 143.85), where the recent price action ‘suggests that the USD is still being negotiated in a range, most likely between 142.10 and 145.50.’ We continue to maintain the same vision. “
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.
