USD/JPY: Further range bound trade remains on the table – UOB – by pabspiovano USDJPY Currencies Majors Banks
is still expected to keep the trade within the 138.50-141.00 range in the next few weeks, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: We expected USD to trade between 139.10 and 139.95 yesterday. However, after dropping briefly to a low of 139.00, USD soared to 140.30 and then closed at 140.21 . The outlook appears to be mixed and today, we expect USD to trade in a range of 139.20/140.50.
Next 1-3 weeks: Our most recent narrative was from last Thursday wherein USD “is likely to trade between 138.50 and 141.00”. There is no change in our view for now.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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