Select Language

USD/JPY: Major support at 145.80 is unlikely to come into view - UOB Group

Breaking news

USD/JPY: Major support at 145.80 is unlikely to come into view - UOB Group

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.08.05 19:59
USD/JPY: Major support at 145.80 is unlikely to come into view - UOB Group

update 2025.08.05 19:59

US Dollar (USD) could break below 146.60 against Japanese Yen (JPY); the major support at 145.80 is unlikely to come into view. In the longer run, sharp drop in USD has scope to extend, but any decline may not break below 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Sharp drop in USD has scope to extend

24-HOUR VIEW: "After the sharp selloff in USD last Friday, we indicated yesterday that 'although further USD weakness seems likely, conditions are deeply oversold, and it remains to be seen whether USD can reach the 146.60.' We pointed out that 'resistance levels are at 147.65 and 148.50.' USD subsequently rose to 148.08 before dropping to a low of 146.85 in the late NY session. While conditions remain oversold, the buildup in downward momentum could lead to USD breaking below 146.60 today. The major support level at 145.80 is unlikely to come into view (there is another support level at 146.30). Today's resistance levels are at 147.30 and 147.60."

1-3 WEEKS VIEW: "We highlighted yesterday (04 Aug, spot at 147.25) that the sharp drop in USD from last Friday 'has scope to extend.' However, we pointed out that 'any decline may not break below 145.80.' We will maintain the same view as long as long 149.00 ('strong resistance' level was at 149.50 yesterday) is not breached."


Date

Created

 : 2025.08.05

Update

Last updated

 : 2025.08.05

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

PBOC sets USD/CNY reference rate at 7.1409 vs. 7.1366 previous

On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1409 as compared to the previous day's fix of 7.1366 and 7.1797 Reuters estimate.
New
update2025.08.06 10:15

WTI recovers to above $65.50 as US crude inventories drop

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.65 during the early Asian trading hours on Tuesday. The WTI recovers some lost ground after the American Petroleum Institute (API) showed US crude oil inventories fell last week.
New
update2025.08.06 10:08

NZD/USD gathers strength above 0.5900 after New Zealand's employment data

The NZD/USD pair edges higher to near 0.5910 during the early Asian session on Wednesday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) after data shows New Zealand's Unemployment Rate came in better than expected.
New
update2025.08.06 09:18

GBP/USD flatlines, Pound Sterling churns the waters as BoE rate call looms

GBP/USD continues to chalk in a middling pattern through the week as investor sentiment takes a breather following a sharp readjustment of economic expectations last week.
New
update2025.08.06 08:51

USD/CAD holds steady above 1.3770, Carney announces support measures for lumber industry

The USD/CAD pair flat lines near 1.3770 during the early Asian session on Wednesday. The Canadian Dollar (CAD) trades unchanged against the US Dollar as crude oil prices decline, and data show a widening of the Canadian trade deficit, which was close to expectations.
New
update2025.08.06 08:20

EUR/USD holds steady near 1.1570 as markets digest Fed outlook

The EUR/USD holds firm during the North American session on Tuesday, with traders still digesting the latest employment figures in the United States (US) and the release of further US data.
New
update2025.08.06 08:09

Canada's Foreign Minister says trade talks with US continue to be constructive

Canadian Foreign Minister Anita Anand said late Tuesday that the officials agreed to build a work plan between Canada and Mexico to focus on supply chains, energy security and others.
New
update2025.08.06 07:55

New Zealand's Unemployment Rate rises to 5.2% in Q2 vs. 5.3% expected

New Zealand's Unemployment Rate rose to 5.2% in the second quarter (Q2) from 5.1% in the first quarter, according to the official data released by Statistics New Zealand on Wednesday. The figure came in below the market consensus of 5.3%.
New
update2025.08.06 07:46

Gold price eyes $3,400 as Fed cut bets grow, Trump eyes new Fed pick

Gold price advances during the North American session as speculation grows that the Federal Reserve (Fed) could begin to cut rates at the next meeting. At the same time, investors await US President Donald Trump's appointment of a new Fed Governor. The XAU/USD trades at $3,381, up 0.20%.
New
update2025.08.06 05:20

Crude Oil markets jitter as US-Russia sanctions debacle heats up

West Texas Intermediate (WTI) Crude Oil prices snapped back and forth during the American market session on Tuesday, before ultimately settling lower as barrel traders struggle to find reasons to remain bullish on Crude Oil demand.
New
update2025.08.06 05:04

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel