Japanese Yen: Holds near multi-year lows against US Dollar – UOB

FXStreet Insights Team FXStreet

United Overseas Bank’s (UOB) Quek Ser Leang sees USD/JPY continuing to consolidate just below the 2024 high of 162.00, with intraday trading expected between 161.45 and 161.95. Despite fading momentum, the bank retains a mildly positive 1–3 week view as long as support at 161.25 holds, and longer-term analysis still allows scope to test the top of a rising wedge.

Risk of break above 162.00 still intact

"24-HOUR VIEW: We indicated last Friday that USD “could trade between 161.45 and 161.95.” USD then traded within a range of 161.51/161.84, closing largely unchanged at 161.73 (-0.03%). The price action provides no fresh clues, and we continue to expect USD to trade between 161.45 and 161.95."

"1-3 WEEKS VIEW: We have held the same view since 19 Jun (spot at 161.25), when we indicated that USD “could rise to the 2024 high of 162.00.” Since then, USD has been consolidating just below 162.00. Upward momentum is fading, but the risk of a break above 162.00 will remain intact as long as 161.25 (‘strong support’ level previously at 161.10) is not breached."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD treads water around 1.3500

GBP/USD keeps gyrating around the 1.3500 region amid humble gains on Thursday. In the meantime, Cable’s irresolute price action comes as investors continue to assess mixed UK data, poor US results as well as the persistent uncertainty surrounding the US-Iran conflict.

EUR/USD picks up pace; revisits 1.1530

EUR/USD trades with decent gains above the 1.1500 yardstick on Thursday. Persistent uncertainty in the Middle East fuels risk aversion, limiting the US Dollar’s downside potential. Earlier in the day, both US Producer Prices and weekly Claims missed market consensus, adding to the buck’s soft tone.

Gold meets resistance around $4,450

Gold extends its intraday pullback on Thursday, retesting the $4,370 zone per troy ounce and fading Wednesday’s uptick. Meanwhile, the precious metal continues to monitor developments from the Middle East as well as bets surrounding the potential Fed’s rate path.

Crypto Today: Bitcoin, Ethereum, XRP remain sluggish amid mixed ETF flows

The cryptocurrency market continues to trade sideways on Thursday, with Bitcoin struggling to reclaim the $64,000 level. Ethereum is attempting to build momentum near the key $1,900 resistance, while Ripple maintains support above $1.00, yet upward movement remains limited.

Week ahead – Summer lull could be tested by geopolitics and central bank expectations

US dollar stabilizes as September Fed hike bets remain subdued. Market volatility stays low, but thin liquidity could amplify movements. Key UK data could challenge pound strength; euro craves bullish catalysts.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.