Market news

Show news:
  • All news
  • Currency news
  • Stock news
  • Raw news



03.06.2019 17:59

USD/JPY faces a potential drop to 107.70/50 – UOB

Spot remains under pressure and could extend the decline to the 107.70/50 band, suggested FX Strategists at UOB Group.

Next 1-3 weeks: “We indicated last Friday (31 May, spot at 109.40) that “looking ahead, the current consolidation is expected to be resolved by a downside break but 109.00 is a solid support and this level may hold for a while more. We added, “if USD were to register a daily closing below this level, it would indicate the start of a sustained decline to 108.45 (and possibly lower)”. However, the subsequent price action came as a surprise as it played out in a ‘fast-forward’ manner as USD sliced through 109.00 and plunged to 108.26 (before closing right at the low for a loss of -1.22%, the largest 1-day decline in 2 years). In other words, USD has moved into a ‘negative phase’ even though the decline appears to be running ahead of itself. That said, there is scope for the weakness to extend to 107.70 (there is another strong support at 107.50). On the upside, only a move above 109.30 would indicate that the current weakness has stabilized. Shorter-term, 109.00 is already a formidable level”.


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

July 2019
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00