USD/JPY: BULLS MAY TRY TO REACH 148.30 – UOB GROUP
The US Dollar (USD) is expected to trade in a range, probably between 146.50 and 148.00. Downward momentum is beginning to wane; a breach of 148.30 would mean the weakness in USD has stabilised.
A sustained move towards 148.30 is possible
24-HOUR VIEW: “Yesterday, we expected USD to trade in a range between 146.30 and 147.70. Although USD subsequently traded in a higher range of 146.69/148.22, it closed largely unchanged at 147.19 (-0.06%). There has been no clear increase in either upward or downward momentum. Today, we continue to expect USD to trade in a range, probably between 146.50 and 148.00.”
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