US Greenback (USD) might rebound additional towards Japanese Yen (JPY), however any advance is unlikely to interrupt clearly above 145.55. Within the longer run, USD seems to have moved into a spread buying and selling part between 143.50 and 146.50, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
USD seems to have moved into a spread buying and selling part
24-HOUR VIEW: “We famous yesterday that ‘the fast buildup in momentum suggests additional USD declines that might doubtlessly attain 144.25.’ We additionally highlighted that ‘the foremost help at 143.50 might be out of attain for now.’ Though USD fell greater than anticipated to 143.73, it rebounded strongly from the low to shut at 144.37 (-0.61%). At this time, USD might proceed to rebound, however any advance is unlikely to interrupt clearly above 145.55. The most important resistance at 146.50 shouldn’t be anticipated to become visible. Assist ranges are at 144.35 and 144.00.”
1-3 WEEKS VIEW: “Two days in the past (25 Jun, spot at 144.85), we indicated that USD ‘seems to have moved into a spread buying and selling part, and it’s prone to commerce between 143.50 and 146.50 in the intervening time.’ Yesterday, USD dropped to 143.73 after which rebounded strongly. We proceed to carry the identical view for now.”
