Yen Range Bound: UOB Forecasts USD/JPY Trading Range

The Japanese Yen is expected to trade within a narrow range against the US Dollar, with a mild upside bias according to United Overseas Bank (UOB)

According to UOB's technical analysis, the USD/JPY pair will likely move between 149.50 and 151.50 in the near term

The bank notes that a sustained break above 151.50 would confirm stronger momentum for the Yen, while a move below 149.50 would negate the bias

The forecast is influenced by the divergence in monetary policy between the Bank of Japan (BoJ) and the US Federal Reserve, as well as geopolitical tensions and global risk sentiment

Traders should watch for key breakout levels to confirm the next directional move, as a range-bound market can offer opportunities for short-term strategies