Japanese Yen: Bearish bias within 153.30–156.30 against US Dollar - UOB
UOB’s Quek Ser Leang reports USD/JPY reversed earlier downside expectations, dipping to 153.29 before surging to 154.99 and closing at 154.35. The bank now sees scope for a move above 155.00, though 155.50 is likely out of reach near term.
UOB analyst Quek Ser Leang observed that the USD/JPY currency pair initially moved lower than anticipated, reaching 153.29 before reversing and climbing to 154.99, ultimately closing at 154.35. The bank now anticipates the potential for USD/JPY to surpass 155.00, but 155.50 appears unlikely in the near term. Within a one-to-three week period, the pair is projected to gradually rise, yet will remain confined within the 153.30-156.30 range due to the fading downward pressure.
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