It is likely that USD/JPY trades within the 141.00-145.00 region in the short termsay UOB Group currency strategists Lee Sue Ann and Quek Ser Leang.
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24 hour view: “Yesterday we highlighted that “further USD/JPY strength looks likely although overbought conditions suggest a sustained rally above 145.00 is unlikely”. stage a surprising sharp drop to a low of 142.54 Despite the bounce from the bottom, the underlying tone looks soft and USD/JPY could drop below 142.50 The next support at 142.00 is unlikely to be threatened Resistance is at 143.60 and then 144.10″.
Next 1-3 weeks: “Following Tuesday’s strong advance, yesterday (Sep 14, USD/JPY 144.50) we highlighted that while the upside momentum has improved, USD/JPY needs to close above major resistance at 145.00 for it to move higher We added that “a break of 143.30 would indicate that USD/JPY is not poised to move above 145.00 on a sustained basis.” USD/JPY rose as high as 144.95 in Asian time yesterday before falling below our “strong” level. support” at 143.30. The break of “strong support” indicates that USD/JPY is not ready to break above 145.00 on a sustained basis. From here, USD/JPY is likely to trade between 141.00 and 145.00 for a while.”
Source: Fx Street
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