USD/JPY: Breach of 148.40 to indicate USD is not rising further – UOB Group
The US Dollar (USD) is expected to trade in a range, likely between 148.90 and 149.90. In the longer run, there has been no further increase in momentum; a breach of 148.40 would indicate that USD is not rising further, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
To trade between 148.90 and 149.90
24-HOUR VIEW: “We expected USD to trade in a 148.55/149.60 range yesterday. USD then traded between 148.86 and 149.81, closing 149.62 ( 0.29%). The price movements provide no fresh clues, and we continue to expect USD to trade in a range, likely between 148.90 and 149.90.”
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