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

FXStreet Insights Team FXStreet

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.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.