USD/JPY continued to construct on momentum to commerce greater. Final at 148.36 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong be aware.
Slight upside dangers forward
“Day by day momentum is flat whereas RSI rose. Slight upside dangers forward. Resistance at 149.40/70 ranges (200 DMA, 50% fibo retracement of 2025 excessive to low). Assist at 146.60 (21 DMA), 145.30 (50 DMA).”
“Whereas political uncertainty (referring to PM Ishiba’s political profession), credit standing considerations (depending on fiscal well being) and carry play is supportive of USD/JPY, ‘promote USD’ commerce can even overwhelm (when USD decline resumes).”
