USD/JPY: To trade in a range of 146.90/149.20 – UOB Group
|US Dollar (USD) is likely to trade in a range between 147.80 and 148.85 against Japanese Yen (JPY). In the longer run, USD strength has paused for now; it is expected to trade in a range of 146.90/149.20, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD strength has paused for now
24-HOUR VIEW: "We expected USD to trade in a range between 147.65 and 148.85 last Friday. Our view of range trading was not wrong, even though USD traded in a narrower range than expected (148.16/148.88). While USD closed at 148.81 last Friday, it traded choppily on the opening today. The price action provides no fresh clues. Today, we continue to expect range trading, probably between 147.80 and 148.85."
1-3 WEEKS VIEW: "We continue to hold the same view as last Thursday (16 Jul, spot at 148.30). As highlighted, the recent 'USD strength has paused for now,' and we expected USD to 'trade in a range of 146.90/149.20'."
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.