The perspective is uncertain after the strong fluctuations; The US dollar (USD) could trade volatile between 152.00 and 154.00 against the Japanese yen (JPY). In the long term, the bullish impulse has vanished to a large extent; It is likely that the USD Cotice in a range of 151.00/155.00 for the moment, the FX analysts of OCBC Frances Cheung and Christopher Wong point out.
It is likely that the USD Cotice in a range of 151.00/155.00
24 -hour view: “After the increase of the USD on Wednesday, we indicated yesterday (Thursday) that ‘the rally seems to be exaggerated, and it is unlikely that the USD will rise much more.’ We maintained the opinion that the USD ‘is more likely to consolidate between 153.30 and 154.85.’ We did not expect subsequent price movements, since after rising to a maximum of 154.66, the USD collapsed and yielded almost all the strong profits of the previous day (the minimum has been 152.68). strong swings, and the USD could continue to trade in a volatile manner, probably between 152.00 and 154.00. “
View of 1-3 weeks: “We highlight yesterday (February 13, spot in 154.25) that ‘although the USD could continue to rise, the conditions of deep overstrum suggest that any advance may not reach the greater resistance in 155.80.’ We also highlight that ‘a break of 152.50 would indicate that the USD is not going up anymore.’ In an amazing movement, the USD collapsed and yielded most of its profits, reaching a minimum of 152.68. At the moment, it is likely that the USD Court in a range of 151.00/155.00. “
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.
