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Japanese Yen holds its range against US Dollar – UOB
An intraday range of 157.45 to 158.20 is expected for USD/JPY as the pair remains tightly rangebound, according to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann. Over 1–3 weeks, they continue to expect trading between 157.00 and 158.60. Their 1–3 month outlook suggests further weakness, although it remains uncertain whether the January low of 152.08 will be tested again.
Dollar expected to remain tightly 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."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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