USD/JPY is predicted to increase the present sideline theme for the nowadays, noted FX Strategists at UOB cluster.
Key Quotes
24-hour view: “Expectation for USD to “extend its advance” didn't hap because it listed during a muted manner and inside a comparatively slim vary (between 106.24 and 106.64). the worth action is probably going a part of Associate in Nursing on-going consolidation part and USD is predicted to still trade sideways for currently. Expected vary for these days, 106.20 and 106.65”.
Next 1-3 weeks: “There isn't abundant to feature as USD listed {in a|during a|in Associate in Nursing exceedingly|in a very} quiet manner and registered an ‘inside commercialism day’. Our read from Tues (20 Aug, spot at 106.60) still stands whereby we tend to expect USD to “trade sideways”. Indicators area unit still showing mixed signals and as highlighted antecedently, USD might trade sideways and solely a transparent get away of the expected one zero five.50/107.30 vary would indicate that USD is prepared for a sustained directional move”.
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