In the opinion of Economist Lee Sue Ann and UOB Group Market Strategist Quek Ser Leang, USD/JPY remains poised to extend the 134.50/137.10 range in the coming weeks.
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24 hour view: “We expected USD/JPY to fall yesterday, but were of the opinion that ‘a sustained drop below 135.50 is unlikely'”. changes at 135.91 (+0.04%). USD/JPY appears to have entered a consolidation phase and is likely to trade in a 135.60/136.35 range today.”
Next 1-3 weeks: “Our update from yesterday (March 6, USD/JPY at 135.90) still stands. As highlighted, the recent strength in USD/JPY has ended. The pair appears to have entered a consolidation phase and is likely to trade at a range of 134.50/137.10 for now.”
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.
