The US dollar (USD) is expected to consolidate against Japanese (JPY) between 149.40 and 150.50. In the long term, there is room for the USD to rise more, but it could find it difficult to break the resistance zone of 151.00/151.30, FX analysts point out UOB GroupTo be Leang and Peter Chia.
Margin for the USD to rise more
24 -hour vision: “The USD shot at 150.94 yesterday, retreating sharply to close 0.52% in 149.90. The setback in overcompra conditions and the deceleration of the impulse suggests that the USD has probably entered a consolidation phase. Today, we hope that the USD operates between 149,40 and 150.50.”
Vision at 1-3 weeks: “After rising abruptly for three consecutive days, the USD retreated yesterday and closed 0.52% in 149.90. Despite the setback, there is room for the USD to rise more. However, the USD could find it difficult 149.00 (‘Strong support level’).
Source: Fx Street
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