In the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, a more sustained advance in USD/JPY seems likely while above 146.55.
Key Quotes
24-hour view: After USD dropped sharply to 144.53 on Wednesday, we highlighted yesterday that “there is room for USD to weaken further.” Our view was incorrect, as USD staged a strong rebound to 145.95. Today, USD could rebound further, but the chance of it breaking clearly above 146.55 is not high. Support is at 145.60, followed by 145.20.
Next 1-3 weeks: Yesterday (24 Aug, spot at 144.75), we indicated that the recent mild upward pressure has faded and we expected USD to trade in a range of 143.50/146.20. We did not anticipate the strong rebound to 145.95. Despite the rebound, upward momentum has not improved much. From here, USD must break and stay above 146.55 before a sustained rise is likely. The likelihood of USD breaking clearly above 146.55 will remain intact as long as it stays above 144.50 in the next 1 to 2 days
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
