USD/JPY shows bearish momentum as UOB strategists eye a test of the 157.50 support level, though they remain skeptical of a decisive breakdown below that mark.
UOB sees mild upside bias for the Yen against the USD, with USD/JPY expected to test 157.50 but not break decisively below.
United Overseas Bank strategists report that USD/JPY momentum is shifting lower following a period of consolidation between 157.67 and 158.33. While the pair closed near 157.99, analysts anticipate a test of the 157.50 support level in the short term.
UOB strategists maintain a bearish bias, expecting the pair to test the 157.50 support level while remaining within a defined range.