No change in sideways stance on USD/JPY as it is expected to continue to trade in the 141.40-144.70 range In the next weeks.
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24 hour view: “Our expectations for USD/JPY to ‘trade with a bearish bias’ were incorrect as it traded between 142.93 and 143.92 before closing on a firm tone at 143.72 (+0.36%). Upside momentum has slightly improved and the USD /JPY could break above 144.00. Given the slight upside pressure, USD/JPY is unlikely to sustain above this level. Support is at 143.20, followed by 142.80.”
Next 1-3 weeks: “Not much to add to our update from yesterday (Sep 20, USD/JPY at 143.00). As we have highlighted, we continue to expect USD/JPY to trade sideways, probably within a range of 141.40/144.70. Heading into Going forward, as long as there is no clear break of 141.40, USD/JPY could try to move above 145.00 at a later stage.”
Source: Fx Street
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