Japanese Yen: Gains seen while below 160.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann describe USD/JPY price action as muted, with the pair confined to 157.15–157.95 and momentum turning flat. They expect intraday range trading between 157.00 and 158.30.
UOB analysts Quek Ser Leang and Lee Sue Ann note that the USD/JPY exchange rate has been relatively stable, with the pair trading within a narrow range of 157.15 to 157.95. They anticipate that the rate will continue to fluctuate within this narrow band, specifically between 157.00 and 158.30 over the next week. While the outlook remains cautious, they do not expect any significant downward pressure on the USD, unless the 160.00 level is breached.
In the medium-term, the analysts maintain their view that the risk for USD remains largely on the downside, with key levels to watch being 155.00 and 154.10.
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