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USD/JPY seen capped in 157.30–158.20 band near term

UOB expects 1-to-3 week downside toward 155.00 and 154.10 unless resistance at 160.00 is breached.

Reported · Written up by our desk · Major Pairs

USD/JPY traded quietly in a tight range, moving between 157.27 and 157.87 and last seen closing at 157.74, according to a UOB outlook cited by FXStreet. The pair’s intraday momentum indicators were described as flat.

UOB expects USD/JPY to remain contained near term, with the base case calling for trading between 157.30 and 158.20. The view is tied to momentum that is not showing a clear directional pickup.

Looking further out, the bank still flags downside risk over the next 1 to 3 weeks, with levels of interest at 155.00 and 154.10. That bearish scenario is expected to hold only as long as strong resistance at 160.00 is not breached.

Latest closeUSD/JPY 158.89 ▲0.9%

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