USD/JPY: Expected to trade in a range between 146.50 and 149.50 – UOB Group
|
US Dollar (USD) is expected to trade in a range vs Japanese Yen (JPY), most likely between 147.45 and 148.70. In the longer run, downward momentum has largely faded; USD is expected to trade in a range between 146.50 and 149.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Downward momentum has largely faded
24-HOUR VIEW: "Yesterday, we expected USD to 'trade in a range between 147.60 and 148.90.' USD then traded in a lower and narrower range than expected (147.39/148.37), closing at 147.81 (-0.30%). The price action did not result in an increase in either downward or upward momentum, and we continue to expect USD to trade in a range, most likely between 147.45 and 148.70."
1-3 WEEKS VIEW: "Two days ago (12 Mar, spot at 148.00), we revised our view to neutral, indicating that 'downward momentum has largely faded.' We expected USD to “trade in a range between 146.50 and 149.50.” There is no change in our view."
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.
