USD/JPY still points to extra gains – UOB


USD/JPY still targets the 110.00 region in the short-term horizon, noted FX Strategists at UOB Group.

Key Quotes

24-hour view: “Yesterday, we expected USD to ‘trade sideways between 109.10 and 109.60’. USD subsequently traded within a narrower range than expected (109.13/109.47). Momentum indicators are still mostly neutral and USD could continue to trade sideways for today, likely between 109.10 and 109.50.”

Next 1-3 weeks: “Our narrative from Tuesday (04 May, spot at 109.10) still stands. We continue to hold the view that there is scope for the current USD strength to extend to 109.95. That said, the prospect for such a move is not high for now. On the downside, a break of 108.55 (no change in ‘strong support’ level) would indicate that the positive phase that started late last week has ended.”

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD recoups 1.1800 mark amid USD weakness

EUR/USD prints minor gains on Tuesday’s morning Asian session. The pair opened higher and moved in a narrow trade band with 15 pips movement. The Euro continues to trade in a range bound manner for the past two weeks.

EUR/USD News

GBP/USD edges higher past 1.3800 as covid optimism battles Brexit woes

GBP/USD seesaws around 1.3820, following the heaviest daily run-up in a week, amid Tuesday’s Asian session. The cable pair benefited from the latest reduction in the coronavirus numbers at home, as well as the broad softening of the US dollar, the previous day.

GBP/USD News

EUR/USD recoups 1.1800 mark amid USD weakness

EUR/USD prints minor gains on Tuesday’s morning Asian session. The pair opened higher and moved in a narrow trade band with 15 pips movement. The Euro continues to trade in a range bound manner for the past two weeks.

EUR/USD News

SafeMoon price nears lift-off, as SAFEMOON possesses the conditions for a big move

Safemoon price has been coiling within a descending triangle pattern since the May crash, highlighted by no sustainable rallies and continuous support along the May 19 low of $0.00000261. The downward trajectory has kept SAFEMOON investors on the defensive.

Read more

FX: 10 things to watch this week

Taking a look at the economic calendar, it is set to be a busy week for the forex market. There’s a central bank rate decision, GDP, inflation and employment reports scheduled for release. A number of big tech companies have ...

Read more

Forex MAJORS

Cryptocurrencies

Signatures