- Home
- Analytics
- Market News
- USD/JPY: Upward momentum alleviated below 146.85 – UOB
Market news
USD/JPY: Upward momentum alleviated below 146.85 – UOB
USD/JPY could see its upside bias mitigated on a breach of the 146.85 level, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: Last Friday, USD rose to a high of 147.96. Yesterday, we indicated that “despite the advance, upward momentum has not improved by much”, and we expected it to grind higher. Instead of grinding higher, USD traded sideways in a relatively narrow range between 147.54 and 147.87. The price action is likely part of a consolidation phase. Today, USD is likely to trade in a range, probably between 147.35 and 147.90.
Next 1-3 weeks: Our update from yesterday (18 Sep, spot at 147.80) is still valid. As highlighted, upward momentum has increased slightly, and USD could edge higher. At this stage, the likelihood of a sustained rise above this level is not high. On the downside, if USD breaks 146.85 (no change in ‘strong support’ level from yesterday) would indicate that the mild upward pressure has eased.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.
-
Customer Support
-
Dealing Desk
© 2011-2023 TeleTrade-DJ International Consulting Ltd
This website is operated by TeleTrade-DJ International Consulting Ltd which is registered with the Department of Registrar of Companies and Intellectual Property of the Companies of the Republic of Cyprus as a private limited company with registration number HE272810 and is authorized by the Cyprus Securities and Exchange Commission ("CySEC") to act as a licensed Cyprus Investment Firm ("CIF") with license number 158/11. TeleTrade-DJ International Consulting Ltd operates in accordance with Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.
Please read our full Terms of Use.
To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
