USD/JPY remains in a consolidation phase near 158.35 after testing support at 157.85, as market participants weigh recent volatility against established technical levels.
The article describes choppy USD/JPY trading around 158.35 with support at 157.85, indicating consolidation without a clear directional bias.
The USD/JPY pair exhibits choppy price action, trading near 158.35 following a volatile session. Strategists at United Overseas Bank note that the pair recently dipped below the critical support level of 157.85, signaling a period of consolidation without a clear directional trend.
The pair is currently in a consolidation phase, trading near 158.35 after experiencing a brief dip below the 157.85 support level.