USD/JPY rangebound near-term – UOB

The research team at UOB Group expects USD/JPY to keep a consolidative range between 106 and 108 in the next 1-3 weeks.

Key Quotes

“While USD has likely made a short-term low at 106.43 last Friday, any further up-move is expected to face stiff resistance at 107.70/75 and a move beyond 108.00 is unlikely”.

“While short-term momentum has improved, we continue to view the current movement as part of a broader consolidation and expect further sideway trading between 106.00 and 108.00 for now”.

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