the USD/JPY continues to point to further consolidation in the coming weeks, probably between 141.00 and 145.00say UOB Group currency strategists Lee Sue Ann and Quek Ser Leang.
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24 hour view: “We were expecting USD/JPY to ‘slip below 142.50’ yesterday. Our expectations did not materialize as it moved relatively calmly between 142.77 and 143.80. Price action appears to be part of a consolidation and the USD/JPY is trading sideways today. Expected to be in a range of 142.60/143.70.”
Next 1-3 weeks: “Not much to add to our update from yesterday (Sep 15, USD/JPY at 143.10). As we have highlighted, USD/JPY does not appear poised to break above 145.00 on a sustained basis. USD/JPY trading between 141.00 and 145.00 for a while.”
Source: Fx Street
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