It is likely that the additional weakness of the US dollar (USD) occurs in front of the Japanese Yen (JPY); It remains to be seen if you can reach 146.60. In the long term, the strong fall of the USD has margin to extend, but any descent may not break below 145.80, the FX analysts of UOB Group, quek being Leang and Peter Chia.
Any descent may not break below 145.80
24 -hour view: “The USD was traded volatilely last Friday, falling to a minimum of 147.28 before closing sharply down into an impressive 2.24% (147.36). Although a greater weakness of the USD seems likely, the conditions are deeply raised, and it remains to be seen if the USD can reach 146.60. Based on the oversized conditions, it is unlikely that the main support is unlikely 145.80 is threatened.
View 1-3 weeks: “After maintaining a positive vision of the USD for several days, in our previous update last Thursday (July 31, Spot in 149.30), we indicate that ‘the vision of the USD remains positive, and the approach is now at 150.00.’ We add, ‘If the USD breaks below the’ strong support ‘in 148.20, it would indicate that it is not going up.’ On Friday, the USD rose to a maximum of 150.91, and then, in a dramatic reversal, it fell and closed down into a disproportionate 2.24% (closing of NY in 147.36), marking its greatest fall in a single day since December 2023. The strong fall has margin to extend, but any descent may not break below 145.80. I would indicate that the current downward pressure has decreased. “
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.
