The US dollar (USD) will probably consolidate in a range of 144.00/145.00 against Japanese Yen (JPY). In the long term, the increase in impulse is not enough to indicate a advance sustained at the moment; The USD must first break and stay above 145.50, indicate the FX analysts of UOB Group, to be Leang and Peter Chia.
The increase in impulse is not enough to indicate sustained advance
24 -hour vision: “We expected the USD ‘to consolidate in a range of 144.00/145.15’ Yesterday. The USD then rose to 144.94, fell to 143.96, before bouncing and closing modestly down 0.19% in 144.58. The price action still seems to be part of a consolidation phase. of 144.00/145.00. “
Vision at 1-3 weeks: “Last Wednesday (June 4, Spot in 143.85), we affirm that ‘the recent price action suggests that the USD is still being negotiated in a range, most likely between 142.10 and 145.50.’ On Friday, the USD shot at a maximum of 145.08. However, we point out that ‘if the USD breaks and remained above 145.50, could potentially trigger a strong recovery.’ The probability that the USD breaks clearly above 145.50 will remain intact whenever the ‘strong support’ is not broken in 143.30 (level that was previously in 143.00). “
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.
