USD/JPY poised for further rangebound – UOB

Further consolidative range is seen in USD/JPY in the next 1-3 weeks, according to analysts at UOB Group.

Key Quotes

“As expected, USD extended its gain but held below last week’s peak of 109.72 (high of 109.49). Upward momentum has slowed and the current movement is likely the early stages of a consolidation phase”.

“There is no change to our view wherein we expect USD to trade in a broad 107.65/110.00 range for now”.