By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: USD/JPY: Pair may test 161.00 level, says UOB Group
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Senkron Digital Showcases CyberPact Service at GISEC Global 2025
Gulf UAE
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports
Double victory at Red Dot: Eczacıbaşı Tiles Group’s VitrA and Villeroy & Boch brands recognised for their design excellence
Lifestyle
Your Next Destination in Dubai: Mövenpick Hotel Apartments Downtown Dubai – The Perfect Choice for Your Stay
Gulf UAE
Nexus Developer Announces the Launch of ‘Estrella’ to Set New Standards in Boutique Luxury Living in Majan, Dubai
Gulf UAE
Moscow City Tourism Committee Brings ‘Moscow Tea Time’ to Dubai with 15 Cultural Venues
Gulf UAE
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > USD/JPY: Pair may test 161.00 level, says UOB Group
Forex

USD/JPY: Pair may test 161.00 level, says UOB Group

News Room
Last updated: 2024/06/27 at 9:23 AM
News Room
Share
3 Min Read
SHARE

The US Dollar (USD) continues to show strength as analysts from UOB Group suggest that the currency could test the 161.00 level before potentially levelling off. Resistance levels are currently at 161.00 and 161.50, with the latter being less likely to come into view. Despite being overbought, the USD is still showing strong momentum, indicating further potential for USD strength in the near future.

In the 24-hour view, the USD experienced a sharp rally, reaching a high of 160.86 before closing at its highest level since 1986. While overbought conditions are present, there are no signs of the USD levelling off just yet. It is predicted that the USD could test 161.00 before potentially stabilizing, with significant support at 160.00 and minor support at 160.30. The currency’s bullish trend is still intact, with resistance levels at 161.00 and 161.50.

Looking ahead to the 1-3 weeks view, UOB Group analysts have maintained a positive outlook on the USD since early last week. In their latest analysis, it was noted that the currency could potentially break above 160.00, with another resistance level at 160.25. However, the USD not only surpassed these levels but also surged to 160.86. While conditions remain overbought, the strong momentum suggests further USD strength. Resistance levels for the currency are now at 161.00 and 161.50, with a ‘strong support’ level now at 159.40, up from 158.80. This indicates a bullish trend for the USD in the coming weeks.

Overall, the USD continues to show strength and momentum, with potential for further gains in the near future. Resistance levels are currently at 161.00 and 161.50, while the currency’s bullish trend remains intact despite overbought conditions. Support levels are at 160.00 and 160.30, with a ‘strong support’ level at 159.40. The USD’s recent rally has brought it to its highest level since 1986, indicating a strong performance and potential for further gains in the future. As analysts suggest, the USD could test 161.00 before potentially levelling off, with 161.50 being less likely to come into view based on current market conditions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room June 27, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Amir expresses condolences to the Ruler of Sharjah
Next Article UAE to establish anti-piracy laboratory for detecting and blocking websites infringing on intellectual property rights – News
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Senkron Digital Showcases CyberPact Service at GISEC Global 2025
Gulf UAE May 12, 2025
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE May 10, 2025
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports May 8, 2025
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle May 5, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?