UOB analysts project a near-term consolidation for USD/JPY before a shift toward bearish momentum, raising questions about whether the pair will test the January low of 152.08.
UOB strategists anticipate that USD/JPY will remain range-bound in the immediate term, with intraday trading confined between 157.90 and 158.50. While the short-term outlook suggests a tight 157.70–158.80 corridor, the medium-term outlook indicates a significant increase in downward momentum that could lead to further depreciation of the pair.
UOB expects the pair to trade within a corridor of 157.70 to 158.80.
The outlook is bearish due to a rapid build-up in downward momentum, though it remains unclear if the January low of 152.08 will be reached.
United Overseas Bank strategists anticipate USD/JPY will remain range-bound between 157.70 and 158.80 in the near term. However, the firm warns of a rapid build-up in downward momentum over the next one to three months, signaling potential weakness for the pair.
UOB strategists expect the pair to remain range-bound, confined to a corridor between 157.70 and 158.80 over the next one to three weeks.
UOB notes a rapid build-up in downward momentum, which suggests the pair may experience further weakness against the Japanese Yen over the next one to three months.