Forex
USD/JPY Sees Limited Decline Amid Broader Range
According to United Overseas Bank's Quek Ser Leang and Lee Sue Ann, the USD/JPY has dropped sharply to around 158.00, eroding the previous upside bias.
The analysts expect the pair to edge lower but see any decline as contained within a wider 156.60-159.60 range in coming days.
They note that intraday moves are likely limited to 157.70-158.70 rather than a sustained bearish trend, suggesting the dollar-yen slide is seen as limited in scope.