Japanese Yen: Range trading remains intact against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY held in a narrow band around 159.35, with a slight uptick in upward momentum. They expect this to translate into trading between 159.15 and 159.65 rather than a sustained advance.
United Overseas Bank's analysts observe the USD/JPY pair maintaining a tight range around 159.35, with a hint of upward movement. They project the pair to fluctuate between 159.15 and 159.65, rather than a steady rise. For the upcoming weeks, they maintain a neutral position, anticipating price action confined between 157.90 and 159.80.
Yesterday, USD traded within a narrow range of 159.10/159.52, closing marginally higher at 159.39 (+0.06%). This slight upswing in momentum may result in an expanded range of 159.15/159.65, rather than a sustained bullish trend. The previous assessment from Tuesday indicated that USD was expected to trade within a range of 157.90 and 159.80. Despite USD exhibiting a calm demeanor over the past few days, this outlook remains unchanged.
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