USD/JPY Range-Bound with Slightly Negative Outlook for Next Weeks
According to UOB's Quek Ser Leang, the USD/JPY currency pair is experiencing a range-bound movement between 158.50 and 159.35 intraday.
This rebound from 158.00 is seen as overdone, and instead of continuing to rise, the pair is likely to trade within this range.
Looking ahead to the next 1-3 weeks, Quek maintains a slightly negative view for USD/JPY, expecting it to edge lower within a 156.60-159.60 range.