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Further upside in USD/JPY seems probable in the short-term horizon, argue UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
24-hour view: Our view for USD to “rise above last week’s high near 146.55” did not materialise as it traded in a range of 145.51/146.39. The price movements appear to be part of a consolidation phase. Today, we expect USD to trade sideways between 145.35 and 146.30.
Next 1-3 weeks: We continue to hold the same view as yesterday (22 Aug, spot at 146.20). As highlighted, despite USD rebounding from 144.92, there is hardly any increase in upward momentum. That said, there is room for USD to rise above last week’s high near 146.55. However, it remains to be seen if there is enough momentum to carry USD to the next major resistance at 147.50. Overall, only a breach of 144.50 (no change in ‘strong support’ level) would indicate that USD is not advancing further.
風險提示:本文所述僅代表作者個人觀點,不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證,對於基於該內容所採取的任何行為,不承擔任何責任,除非另有書面明確說明。
