USD/JPY faces a mixed outlook – UOB

Pablo Piovano FXStreet

In opinion of FX Strategists at UOB Group, the outlook for USD/JPY remains mixed for the time being.

Key Quotes

24-hour view: “USD traded between 107.10 and 107.42 yesterday, narrower than our expected consolidation range of 106.95/107.45. The quiet price action offers no fresh clues and USD could continue to trade sideways for today, likely between 107.00 and 107.45.”

Next 1-3 weeks: “USD rose to a high of 107.42 yesterday, just a few pips below our ‘strong resistance’ level of 107.45. Downward momentum has eased considerably and our view from Monday (13 Jul, spot at 106.90) wherein USD ‘is expected to trade with a downward bias towards 106.25’ is unlikely to materialize. From here, the outlook is mixed and USD could trade between 106.70 and 107.70 for a while.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold holds gains near $5,000 as China's gold buying drives demand

Gold price clings to the latest uptick near $5,000 in Asian trading on Monday. The precious metal holds its recovery amid a weaker US Dollar and rising demand from the Chinese central bank. The delayed release of the US employment report for January will be in the spotlight later this week.

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.