Japanese Yen: Limited losses within 153.30–156.30 band against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann report USD/JPY has extended its rebound to around 155.08, with modest upward momentum suggesting scope for a test above 155.50, while 156.30 remains a distant cap.
The Japanese Yen has experienced limited losses within the range of 153.30–156.30 against the US Dollar, according to reports from UOB’s Quek Ser Leang and Lee Sue Ann. The pair has been rebounding, reaching around 155.08, and there is potential for a test above 155.50, with 156.30 acting as a distant cap. Over the next one to three weeks, analysts anticipate the pair edging higher but remaining within this broad range, with support at 154.40.
A brief 24-hour view indicated that the US Dollar rose to a high of 154.99 two days ago. When it reached 154.45 yesterday, analysts suggested that the USD could climb above 155.00, but the following resistance at 155.50 likely remains out of reach. The recent rise to 155.23 and settlement at 155.08 (+0.47%) shows that upward momentum remains modest but may push USD above 155.50. The next resistance, at 156.30, is not expected to materialize.
On the downside, a break below 154.40, with 154.80 as minor support, would signal that the USD has entered a range-trading phase.
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