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Forex

USD/JPY Range Trading Continues, Downside Risk Lingers

Guavy AI Editorial Team
Instruments
USD JPY
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Analysts at United Overseas Bank (UOB) expect continued range trading in the USD/JPY currency pair, but warn of a possible downside risk if the strong resistance level at 160.00 is breached.

The pair has been confined to a tight range between 157.15 and 157.95, with momentum indicators turning flat. Quek Ser Leang and Lee Sue Ann from UOB anticipate intraday trading within the 157.00-158.30 range over the next few days.

Looking ahead to the next 1-3 weeks, the analysts expect a risk to the downside toward 155.00 and 154.10, provided that the 160.00 resistance level is not broken.

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