USD/JPY may be consolidating currently, according to UOB.

As per the opinion of the FX Strategists at UOB Group, Lee Sue Ann and QuekSerLeang; in the next few weeks, the USD/JPY currency pair seems to steer around the 128.00-131.25 level.

May 04, 2022 - 12:35 PM 261 views

USD/JPY may be consolidating currently, according to UOB.

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© USD/JPY may be consolidating currently, according to UOB.

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As per the opinion of the FX Strategists at UOB Group, Lee Sue Ann and QuekSerLeang; in the next few weeks, the USD/JPY currency pair seems to steer around the 128.00-131.25 level.

Important comments

24 -hour view: On the previous day, the USD dollar traded fairly in a quiet manner. Furthermore, the momentum indicators are mostly neutral, implying that the USD dollar will likely strengthen further, possibly trading between 129.60 and 130.35.

In The Next 1-3 Weeks: Last Thursday (28th April), the USD dollar rose to 131.24 points and later it was pulled back and traded sideways for the last few days. The upward momentum would likely decrease and the USD dollar would continue to strengthen from here between 129.00 and 131.25. Looking forward, the USD dollar should start moving and stay above the 131.25 level.

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