OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY keeps the constructive view so far – UOB

FX Strategists remain bullish on USD/JPY and expect the pair to move to the 110.70 region in the short-term.

Key Quotes

24-hour view: “Our expectation for USD to ‘edge higher towards 110.40’ did not materialize as it traded mostly sideways eking out a fresh high of 110.28. Momentum indicators are mostly ‘neutral’ and from here, USD is likely to trade sideways. Expected range for today, 110.00/110.35.”

Next 1-3 weeks: “USD closed at an 8-month high of 110.14 yesterday (16 Jan). While upward momentum remains positive, the price action lacks ‘urgency’. However, as highlighted in recent updates, there is scope for the current USD strength to extend towards the next resistance at 110.67. The lack of ‘impulsiveness’ suggests USD may struggle to move clearly above this level. On the downside, a breach of 109.45 would indicate the current USD strength has run its course.”

CFTC Positioning Report: GBP net longs in highest level since April 2018

These are the main highlights of the latest CFTC Positioning Report for the week ended on January 14th: Net longs in the sterling climbed to the highe
Read more Previous

EUR/JPY: Door open for a correction lower – Commerzbank

After failing to extend the rally further north of the 122.60 region, the cross is now expected to face downside pressure, noted Karen Jones, Team Hea
Read more Next
Start livechat