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- USD/JPY expected to keep the range so far – UOB
USD/JPY expected to keep the range so far – UOB
FX Strategists at UOB Group are expecting a further sideline trading in USD/JPY in the next weeks.
- "24-hour view: Instead of “trading sideways”, USD dropped to 105.72 before ending the day on a soft note at 105.92. Downward momentum has improved albeit not by much and this could lead to USD testing the next support at 105.60. At this stage, a sustained decline below this level is not expected. Resistance is at 106.15 followed by 106.35.
- Next 1-3 weeks: After the spectacular rebound from 104.44 last Monday (Aug 26), the price action in USD has been mixed. The movement offers no fresh clues and for now, we continue to hold the same view since 27 Aug (spot at 106.00) wherein USD is expected to “trade sideways and within a broad range between 105.00 and 107.00 for a while more."
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