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USD/JPY holds steady near 159 as UOB keeps upside bias

UOB expects the pair to trade in a 158.70 to 159.70 intraday range, and says advances are likely to stay within the broader 157.00 to 160.20 band over 1 to 3 weeks.

Reported · Written up by our desk · Major Pairs

FXStreet notes that United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann said USD/JPY closed little changed at 159.41, after dipping to 158.58 and rebounding to 159.54.

In their outlook, the analysts expect the pair to move within 158.70 to 159.70 during the current session.

They also maintain an upside-tilted bias over the next 1 to 3 weeks, but characterize any rise as part of a broader 157.00 to 160.20 range rather than the start of a new trend.

Latest closeUSD/JPY 157.84 ▼0.3%

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