Market news
10.02.2020, 11:22

USD/JPY now faces some extra consolidation – UOB

FXStreet reports that in the opinion of FX Strategists at UOB Group prospects of further downside appear dissipated and USD/JPY is now likely to trade within a consolidative fashion.

24-hour view: “After trading on a relatively firm note for several days in a row, the sudden and sharp drop in USD to a low of 109.52 came as a surprise. The recent positive momentum has or less dissipated and the bias for USD is tilted to the downside. That said, any weakness is likely limited to a test of 109.30 (next support is at 109.00). Resistance is at 109.90 followed by 110.10.”

Next 1-3 weeks: “As highlighted, USD is expected to trade sideways for a period, likely between two major levels of 108.30 and 110.30. While the top of the expected range is within sight, at this stage, there is no early indication that USD is ready to move above this level in a sustained manner.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location