In today’s Forex Forecast, the USD/JPY and EUR/USD were the focus for Wilson Leung, Managing Director for Trendsetter FX, when he joined Nick Batsford on the Tip TV Finance Show.
USD/JPY to remain range bound until Fed meeting
Leung believed that the range 122.30 to 123.77 will continue on the pair until we are likely to see action from the Federal Reserve next week.
End of the downtrend for EUR/USD – upside ahead towards 1.1070
Parity is not on the cards for the pair, and Leung continued that the decline in EUR/USD from August has come to the end, with him favouring upside, after consolidation over the next 1 or 2 days. He targeted a break of the 1.09 level, before heading higher to 1.1070.
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