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Japanese Yen Remains Range-Bound Against US Dollar: UOB
157.45 to 158.20 is the expected intraday range for USD/JPY, according to United Overseas Bank (UOB). Analysts Quek Ser Leang and Lee Sue Ann see the pair remaining in a narrow trading band. Their 1–3 week outlook retains a range of 157.00 to 158.60. Over 1–3 months, they anticipate further weakness, although a retest of January’s low of 152.08 remains uncertain.
157.45 to 158.20: Dollar Expected to Stay Rangebound
"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."
(An editor reviewed this article, which was produced with assistance from an Artificial Intelligence tool. Learn more.)
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