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Likely to consolidate in a 142.20/144.00 range – UOB Group
By: bitcoin ethereum news|2025/05/07 20:15:02
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US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD/JPY has likely entered a consolidation phase 24-HOUR VIEW: “Yesterday, we expected USD to trade in a 143.40/144.85 range. However, USD plunged and closed at 142.41 (-0.90%). USD rebounded strongly after the NY close. The rebound, coupled with slowing momentum and oversold conditions, suggests USD will likely consolidate. Expected range for today: 142.20/144.00.” 1-3 WEEKS VIEW: “The following are excerpts from our update yesterday, 06 May, when USD was at 144.00: ‘The initial rebound from the late April low of 139.86 has been strong, but upward momentum has since slowed. USD has likely entered a consolidation phase, and it is likely to trade between 142.20 and 146.70 for now.’ Our update still stands. Looking ahead, should USD break and hold below 142.20, it could trigger a deeper pullback.” Source: https://www.fxstreet.com/news/usd-jpy-likely-to-consolidate-in-a-14220-14400-range-uob-group-202505071017
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