4 Global Market Updates- 19 September, 2022

In this article, we have covered the highlights of global market news about the USD/JPY,  Natural Gas, USD/CAD and NZD/USD.

USD/JPY is set to continue consolidating, according to UOB

Lee Sue Ann and Quek Ser Leang, FX Strategists at UOB Group, believe that the USD/JPY will continue to trade in a sideways fashion between 141.00 and 145.00.

View for the next 24 hours: “We said last Friday that “the price actions seem to be part of a consolidation” and that we anticipated the USD to “trade sideways within a band of 142.60/143.70.” Despite the fact that our prediction of sideways trading was not incorrect, USD traded inside a smaller range than anticipated (142.82/1.43.68). The US Dollar has a negative bias today due to the weakening of the underlying tone. Any weakness, however, is most likely restricted to a test of 142.20. (minor support is at 142.50). Resistance is found at 143.30, then 143.60.

The next 1-3 weeks: “Our most recent analysis from last Thursday (15 September, position at 143.10) remains true. As said, the US Dollar doesn’t seem prepared to rise beyond 145.00 steadily. From here, USD is probably going to fluctuate for a while between 141.00 and 145.00.”

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