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USD / JPY: Expectation of continuity of the range in the short term – UOB

USD / JPY is forecast to remain trading within the 105.00-106.00 range on the near term horizon, UOB Group currency strategists noted.

Key statements:

24-hour outlook: “The USD traded relatively quietly yesterday (between 105.26 and 105.62). Price actions offer no new clues and the USD could continue to consolidate for now, probably within a range of 105.30 / 105.75 “.

Next 1-3 weeks: “The USD rose above 106.00 last Thursday, October 8 (high at 106.10) but could not hold a foothold above this level. The construction of the moment faded quickly and the outlook for the USD is mixed. From here, the USD could trade between 105.00 and 106.00 over a period of time. “

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Credits:Forex Street

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