US Greenback (USD) is prone to commerce between 144.40 and 145.50 towards Japanese Yen (JPY). Within the longer run, there was a tentative buildup in momentum; for a sustained advance, USD should first break and maintain above 145.50, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
A tentative buildup in momentum
24-HOUR VIEW: “USD edged to a low of 144.32 within the NY session yesterday, earlier than rising sharply to shut barely decrease by 0.10% at 145.10. The value motion seems to be a part of a spread buying and selling part. In the present day, USD is prone to commerce between 144.40 and 145.50.”
1-3 WEEKS VIEW: “On Monday (16 Jun, spot at 144.45), we highlighted that USD ‘is prone to commerce in a spread for now, in all probability between 143.00 and 145.50.’ Yesterday, USD rose to a excessive of 145.44. There was a tentative buildup in momentum, however USD should first break and maintain above 145.50 earlier than a sustained advance might be anticipated. The chance of USD breaking clearly above 145.50 will stay intact so long as the ‘sturdy assist’ stage, now at 143.85, holds.”
