After the strong oscillations, the panorama is uncertain; The US dollar (USD) could operate in a range of 145.40/148.50 against Japanese Yen (JPY). In the long term, the bearish impulse begins to decrease; A rupture of 148.50 would indicate that the weakness of the USD has stabilized, the FX analysts of UOB Group, to be Leang and Peter Chia.
The USD can quote in a range of 145.40/148.50
24 -hour vision: “We noticed yesterday that the USD ‘has won impulse’, but we had the opinion that ‘it might not be able to break below 145.00.’ The USD weakened more than expected, collapsing to a minimum of 143.98 and then recovered sharply during the NY session (the maximum was 148.27).
Vision at 1-3 weeks: We have maintained a negative vision of the USD since the beginning of this month. In our last narrative two days ago (April 8, for 147.50), we point out that ‘the oversized weakness of the USD has not stabilized.’ We indicate that ‘there is a possibility that the USD falls below 145.00 again before the risk of another rebound increases.’ Yesterday, the USD fell to 143.98 before bouncing strongly. The downward impulse begins to decrease, and a break of 148.50 (without change in the level of ‘strong resistance’) would indicate that the weakness of the USD has stabilized. Until then, there is a small possibility that the USD reaches the level of 144.00. “
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.
