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Japanese Yen: Trade against US Dollar remains range-bound – UOB
USD/JPY remains range-bound, with further weakness indicated over 1–3 months, although a retest of January’s low of 152.08 remains uncertain, according to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann. For intraday trading, they expect the Dollar to stay between 157.45 and 158.20, while their 1–3 week outlook retains a range of 157.00–158.60.
Will the Dollar Remain Within Tight Trading Ranges?
"24-HOUR VIEW: We indicated yesterday that USD “could trade between 157.60 and 158.20.” USD then traded within a relatively narrow range of 157.43 and 157.99. The price action provides no fresh clues. Today, USD could trade between 157.45 and 158.20."
"1-3 WEEKS VIEW: We have been holding the same view since last Wednesday (28 Oct, spot at 157.85), when we highlighted that USD “has likely entered a range-trading phase, and for the time being, we expect it to trade between 157.00 and 158.60.” We continue to hold the same view."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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