Flaunt Weekly
EntertainmentUSD/JPY is seen navigating within a range bound theme – UOB
USD/JPY is seen navigating within a range bound theme – UOB

USD/JPY is seen navigating within a range bound theme – UOB

USD/JPY is now expected to embark on a consolidative phase in the next weeks, likely within the 128.00-130.80 range, noted UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia

Key Quotes

24-hour view: “We highlighted last Friday that USD ‘appears to have moved into a consolidation phase and it is likely to trade between 129.10 and 130.55’. Our view for consolidation was not wrong even though USD traded within a narrower range than expected (129.45/130.27). We continue to expect USD to consolidate, likely within a range of 129.35/130.30.”

Next 1-3 weeks: “There is not much to add to our latest update from last Thursday (26 Jan, spot at 129.25). As highlighted, the current movement in USD is likely part of a consolidation phase and we expect USD to trade within a range of 128.00/130.80 for now.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Read More

David Carroll is a Journalist at Flaunt Weekly.

Magazine made for you.