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20 Oct 2022

USD/JPY: Extra gains could revisit 150.60 – UOB

The rally in USD/JPY could surpass the 150.00 yardstick and allow for a potential move to the 150.60 region, comment Markets Strategist Quek Ser Leang and Economist Lee Sue Ann at UOB Group.

Key Quotes

24-hour view: “Yesterday, we highlighted that USD ‘could continue to advance even though we still think that 150.00 is unlikely to come into view for now’. Our view was not wrong as USD rose to a high of 149.90. Despite the advance, upward momentum has not improved by much. That said, a break of 150.00 would not be surprising but USD is unlikely to be able to maintain a foothold above this level. The next resistance at 150.60 is unlikely to come into view as well. On the downside, a break of 149.20 (minor support is at 149.50) would indicate that the current upward pressure has eased.”

Next 1-3 weeks: “We turned positive on USD late last week. As USD rose, in our latest narrative from Monday (17 Oct, spot at 148.50), we indicated that while conditions are deeply overbought, further USD strength to 150.00 is not ruled out. Yesterday (19 Oct), USD rose to a high of 149.90. From here, a break of 150.00 is likely to lead to further USD strength. That said, it might take a while before the next resistance at 150.60 comes into view. Overall, only a breach of 148.50 (‘strong support’ level was at 147.90 yesterday) would indicate that USD is unlikely to strengthen further.”

Oct 20, 2022

Gold Price Forecast: XAU/USD retreats from $1,635 as China-linked optimism fails to tame yields

Gold price (XAU/USD) reverses from intraday high, after a brief jump from the monthly low, as it drops to $1,630 during early Thursday morning in Euro
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Oct 20, 2022

GBP/USD could easily slip back to the bottom end of its wide 1.10-1.15 range – ING

GBP/USD flirts with the 1.12 level. In the view of analysts at ING, the pair could slump to the bottom of the 1.10-1.15 range. The UK is struggling to
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