USD/JPY: Outlook remains mixed – UOB
|According to FX Strategists at UOB Group, the outlook on USD/JPY remains mixed for the time being.
Key Quotes
24-hour view: “USD did not do much yesterday as it traded between 107.00 and 107.52, relatively close to our expected range of 106.90/107.50. The price action offers no fresh clues and the outlook remains mixed. For today, USD could continue to trade in an undecided manner between 106.90 and 107.50.”
Next 1-3 weeks: “USD continues to trade in an ‘undecided’ manner and there is no change to our view from Wednesday (15 Jul, spot at 107.25). As highlighted, the outlook is mixed and USD could trade between 106.70 and 107.70 for a while. Overall, the recent lackluster price actions suggest USD is not likely to embark on a sustained directional move anytime soon.”
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.