USD/JPY could see 111.00 tested

14 June, 2018

In view of FX Strategists at UOB Group, the pair’s stance remains constructive and could visit the 111.00 handle in the next weeks.

24-hour view: “We expected a higher USD yesterday but were of the view that “110.80 may not be an easy level to break”. Post-FOMC, USD moved above 110.80 but plummeted after briefly touching a high of 110.84. Upward pressure has eased with the sharp drop from the high and from here, USD is likely to consolidate and trade sideways at these higher levels. Expected range for today; 109.95/110.65”.

Next 1-3 weeks: “USD edged above the 110.50 resistance at the time of writing (high of 110.54) and as highlighted yesterday, a clear break of this level would indicate that the current USD strength could test the 111.00 resistance. Further extension to last month’s top near 111.40 is not ruled out but the odds for such a move are not high (momentum indicators appear to be lackluster at this stage). Overall, we hold a ‘positive’ view for USD (especially for the next few days) and only a break of the ‘key support’ at 109.70 (level previously at 109.40) would indicate that the current upward pressure has eased”.


Source link   Presented by HYCM

USD/JPY recovers to 107 area

10-year US T-bond yield extends slide, drops below 2%. US Dollar Index stays calm near the 96 mark. Fed's Williams & Bostic, FOMC Chairman Powell...

Oscillates in a familiar trading range

The USD/JPY pair lacked any firm directional bias and seesawed between tepid gains/minor losses through the early European session on...

USD/JPY climbs to 1-week tops

Improving risk sentiment dents the JPY's relative safe-haven status. The USD remains supported by a solid rebound in the US bond yields. Focus now shifts...


USD/JPY backs away from highs

US Dollar Index retreats toward 97 area. Nikkei Manufacturing PMI in Japan improves slightly in March. Coming up: Retail sales and manufacturing...

USDJPY Jumps As UK Rejects No-Deal Brexit

The UK parliament rejected a no-deal Brexit on Thursday evening. This leads to speculation that the UK might formally ask the EU for an extension...

On Wednesday Yen slips in Asia

On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries...


USD/JPY keeps showing a negative trend

Since the beginning of the week, USD/JPY fell by 100 points. The currency pair is close to the round 109.000 with 109.550 acting as the closest...

USD/JPY started to grow after a long descent

Yesterday the quotes grew by 100 points and updated the local maximums. Right now the safe haven currency is consolidating and has good prospects...

USD/JPY in an aggressive sell-off

During the trading yesterday, the yen grew by more than 1% against the USD. The quotes reached 111.000 and can descend further. The local resistance...

  


Share it on:   or