TRENDING:

USD/JPY: Likely to trade in a range of 152.40/153.40 – UOB Group

US Dollar (USD) is likely to trade in a range of 152.40/153.40. In the longer run, further USD strength is likely; the level to watch is 153.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further USD strength is likely

24-HOUR VIEW: "USD rose to a high of 152.99 two days ago and then pulled back. Yesterday, when USD was at 152.50, we were of the view that 'there is a chance for USD to test 153.00 again before a more sustained and sizeable pullback can be expected.' The subsequent price movements did not turn out as expected, as USD fluctuated between 152.21 and 153.23 before closing at 153.06, up by 0.25%. Today, we expect USD to range-trade, but the firm underlying tone suggests it is likely to trade in a higher range of 152.40/153.40."

1-3 WEEKS VIEW: "We turned positive on USD at the start of the week. On Wednesday (07 Oct, spot at 150.35), we highlighted that “further USD strength is likely, and the level to watch is 153.80.” There is no change in our view. Overall, only a breach of 151.40 (‘strong support’ level previously at 150.90) would indicate that USD is not strengthening further."

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD struggles below 1.1550 amid USD rebound

EUR/USD is back in the red, struggling below 1.1550 in the early European session on Friday. The pair exhibits modest weakness as the US Dollar recovers ground amid broad risk aversion, led by global tech sell-off, weak US jobs data and extended government shutdown. ECB-speak and US Michigan Consumer Sentiment eyed.

GBP/USD stays weak near 1.3100 after dovish BoE hold

GBP/USD keeps the red near 1.3100 in European trading on Friday, having risen 1% over the past two sessions. The pair loses recovery momentum as the Pound Sterling struggles following the Bank of England’s dovish hold in November. The US Dollar rebound also adds to the weight on the major.

Gold climbs further beyond $4,000 on safe-haven demand and Fed rate cut expectations

Gold reclaims the $4,000 psychological mark heading into the European session on Friday, though it remains below the overnight swing high amid mixed cues. Concerns about the economic fallout from a prolonged US government shutdown, along with the uncertainty over the legality of US President Donald Trump's tariffs, temper investors' appetite for riskier assets.

Dogecoin rebounds as Bitwise ETF could launch in 20 days

Dogecoin trades above $0.1600 on Friday, stabilizing after a rough start to the week. Eric Balchunas, a Bloomberg ETF analyst, shared that the Bitwise Dogecoin spot Exchange Traded Fund could launch 20 days after the 8(a) form filed on Thursday.

Week ahead – With the treats potentially over, is risk sentiment about to be tricked?

Risk appetite has not fully enjoyed the treats of a Fed rate cut, strong earnings and trade peace. Fedspeak, the US Supreme Court and US data could challenge the Dollar’s current strength. Aussie and Pound are on divergent paths as respective central banks meet next week.

Dogecoin Price Forecast: DOGE rebounds as Bitwise ETF could launch in 20 days

Dogecoin (DOGE) trades above $0.1600 at the time of writing on Friday, stabilizing after a rough start to the week. Eric Balchunas, a Bloomberg ETF analyst, shared that the Bitwise Dogecoin spot Exchange Traded Fund (ETF) could launch 20 days after the 8(a) form filed on Thursday.