4 Global Market Updates- 2 September, 2022

 

In this article, we have covered the highlights of global market news about the USD/JPY, USD/TRY, EUR/USD and NZD/USD.
USD/JPY maintains a solid upward trend – UOB

Lee Sue Ann and Quek Ser Leang, FX Strategists at UOB Group, predict that the USD/JPY pair might rise to 141.50 on closing above 1405.50.

View for the next 24 hours: “Yesterday, we maintained the position that ‘the quick improvement in momentum is expected to lead to more USD strength towards 140.00’. The next barrier is at 140.50, and we emphasized that “a break of this key obstacle is not ruled out.” Our assessment was correct as the USD rose to a high of 140.22. Even if overbought circumstances indicate that the USD may not be able to keep a footing over 140.50, more USD gain is expected. A violation of 139.35 (minor support is at 139.65) would signal a downward pressure decrease on the downside.

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