USD/JPY trades sideways near 157.86, with UOB analysts forecasting continued consolidation within a 157.00-158.70 range as the pair struggles to establish a definitive trend.
UOB notes USD/JPY is trading choppily within a defined range of 157.50-158.50 intraday and 157.00-158.70 over 1-3 weeks, with no clear directional trend.
The USD/JPY pair remains trapped in a choppy trading range as market participants await clearer signals. Analysts at UOB expect the currency pair to oscillate between 157.50 and 158.50 in the near term, with a broader consolidation band of 157.00 to 158.70 projected over the next three weeks.
The pair is expected to remain in a consolidation phase, trading within a range of 157.00 to 158.70 over the coming weeks due to a lack of clear directional trend.