USD/JPY: Likely to trade in a range of 148.65/152.00 – UOB Group
|US Dollar (USD) is likely to consolidate in a range of 149.15/150.55. In the longer run, USD weakness appears to have stabilised; it is likely to trade in a range of 148.65/152.00 for now, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
USD weakness appears to have stabilised
24-HOUR VIEW: “We stated last Friday that USD ‘appears to have entered a consolidation phase.’ We expected it to ‘trade in a 149.65/150.65 range.’ Despite trading in a wider range of 149.34/150.69, USD closed largely unchanged at 150.03 (-0.03%). The price movements still appear to be part of a consolidation, but the slightly softened underlying tone suggests USD is likely to trade in a lower range of 149.15/150.55 today.”
1-3 WEEKS VIEW: “Last Thursday (05 Dec, spot at 150.35), we highlighted that the recent USD weakness ‘appears to have stabilised.’ We also highlighted that ‘the current price movements are likely the early stages of a range trading phase, probably between 148.65 and 152.00.’ Our view remains unchanged.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.