USD/JPY: TO TEST THE MAJOR RESISTANCE AT 144.00 – UOB GROUP
The US Dollar (USD) has potential to test the major resistance at 144.00. In the longer run, upward momentum is building; if USD can break above 144.00, it could trigger a stronger recovery towards 145.50, UOB Group FX analysts Quek Ser Leang and Victor Yong note.
USD/JPY can test 144.00 near term
24-HOUR VIEW: “Yesterday, we held the view that ‘as long as USD remains above 140.90, it could test 142.80 before leveling off.’ The subsequent price action did not turn out as we expected, as USD plummeted briefly to 140.43 in NY trade and then surged to close largely unchanged at 142.27 (-0.09%). USD continues to advance in early Asian trade today and could potentially test the major resistance at 144.00. On the downside, support can be found at 141.70 (minor support is at 142.40).”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.