US Greenback (USD) is prone to commerce in a variety of 142.95/144.40 in opposition to Japanese Yen (JPY). Within the longer run, value motion means that USD remains to be buying and selling in a variety, probably between 142.10 and 145.50, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
Worth motion means that USD remains to be buying and selling in a variety
24-HOUR VIEW: “USD fell sharply to 142.58 on Wednesday. Yesterday, Thursday, when it was at 142.75, we indicated that ‘there may be scope for USD to proceed to weaken, despite the fact that the foremost assist at 142.10 is unlikely to return beneath risk (there may be one other assist at 142.35).’ Our view was incorrect, as USD fluctuated in a variety of 142.52/143.97. Regardless of the uneven value motion, there was a slight improve in upward momentum. Nonetheless, as a substitute of a sustained rise, USD is extra prone to commerce in the next vary of 142.95/144.40.”
1-3 WEEKS VIEW: “Our newest narrative was from two days in the past (04 Jun, spot at 143.85), whereby the latest value motion ‘suggests USD remains to be buying and selling in a variety, probably between 142.10 and 145.50.’ We proceed to carry the identical view.”
