The post USD/JPY: Building downside momentum toward 158.50–158.00 – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank (UOB) strategists Quek Ser LeangThe post USD/JPY: Building downside momentum toward 158.50–158.00 – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank (UOB) strategists Quek Ser Leang

USD/JPY: Building downside momentum toward 158.50–158.00 – UOB

For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report that USD/JPY fell to 158.59 and closed at 158.77, with downside momentum starting to build. They see scope for further weakness toward 158.50 intraday, while the 1–3 week view allows for a potential test of 158.00, provided the pair stays below resistance at 159.50.

Further weakness possible as momentum builds

“Following Monday’s price action, we noted yesterday that “there has been a slight increase in downward momentum.” We expected USD to “edge lower,” but we were of the view that “any decline is likely part of a lower range of 159.00/159.70.” We underestimated the increase in momentum, as USD dropped to a low of 158.59 before closing at 158.77 (-0.42%).”

“Yesterday, USD broke slightly below 158.70 as it dropped to a low of 158.59. Downward momentum is starting to build, and USD could potentially drop below 158.50 and test 158.00. To sustain the buildup in momentum, USD must hold below the ‘strong resistance’ level, now at 159.50.”

“Today, USD could continue to weaken to 158.50 before stabilisation can be expected. A break below this level is not ruled out, but based on the current momentum, the major support at 158.00 is unlikely to come under threat. On the upside, a breach of 159.20 (minor resistance is at 159.00) would suggest USD is likely to range-trade instead of declining.”

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Source: https://www.fxstreet.com/news/usd-jpy-building-downside-momentum-toward-15850-15800-uob-202604150809

Market Opportunity
Secretum Logo
Secretum Price(SER)
$0.000084
$0.000084$0.000084
0.00%
USD
Secretum (SER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Edges higher ahead of BoC-Fed policy outcome

Edges higher ahead of BoC-Fed policy outcome

The post Edges higher ahead of BoC-Fed policy outcome appeared on BitcoinEthereumNews.com. USD/CAD gains marginally to near 1.3760 ahead of monetary policy announcements by the Fed and the BoC. Both the Fed and the BoC are expected to lower interest rates. USD/CAD forms a Head and Shoulder chart pattern. The USD/CAD pair ticks up to near 1.3760 during the late European session on Wednesday. The Loonie pair gains marginally ahead of monetary policy outcomes by the Bank of Canada (BoC) and the Federal Reserve (Fed) during New York trading hours. Both the BoC and the Fed are expected to cut interest rates amid mounting labor market conditions in their respective economies. Inflationary pressures in the Canadian economy have cooled down, emerging as another reason behind the BoC’s dovish expectations. However, the Fed is expected to start the monetary-easing campaign despite the United States (US) inflation remaining higher. Investors will closely monitor press conferences from both Fed Chair Jerome Powell and BoC Governor Tiff Macklem to get cues about whether there will be more interest rate cuts in the remainder of the year. According to analysts from Barclays, the Fed’s latest median projections for interest rates are likely to call for three interest rate cuts by 2025. Ahead of the Fed’s monetary policy, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto Tuesday’s losses near 96.60. USD/CAD forms a Head and Shoulder chart pattern, which indicates a bearish reversal. The neckline of the above-mentioned chart pattern is plotted near 1.3715. The near-term trend of the pair remains bearish as it stays below the 20-day Exponential Moving Average (EMA), which trades around 1.3800. The 14-day Relative Strength Index (RSI) slides to near 40.00. A fresh bearish momentum would emerge if the RSI falls below that level. Going forward, the asset could slide towards the round level of…
Share
BitcoinEthereumNews2025/09/18 01:23
MEXC Publishes April 2026 Proof of Reserves, BTC Reserve Ratio Rises to 295%

MEXC Publishes April 2026 Proof of Reserves, BTC Reserve Ratio Rises to 295%

VICTORIA, Seychelles, April 15, 2026 (GLOBE NEWSWIRE) -- MEXC, the world leader in 0‑fee digital asset trading, published its April 2026 Proof of Reserves.
Share
CryptoReporter2026/04/15 18:00
Survey Reveals Widespread Confusion About Cryptocurrency Tax Obligations

Survey Reveals Widespread Confusion About Cryptocurrency Tax Obligations

Coinbase survey reveals over 50% of crypto users don't understand tax rules, highlighting compliance risks and education gaps in the growing digital asset industry
Share
Citybuzz2026/04/02 22:05

USD1 Genesis: 0 Fees + 12% APR

USD1 Genesis: 0 Fees + 12% APRUSD1 Genesis: 0 Fees + 12% APR

New users: stake for up to 600% APR. Limited time!