USD/JPY remains within a consolidative range – UOB

USD/JPY is still seen navigating within the 109.30-110.55 range in the next weeks, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “USD traded between 109.55 and 109.88 last Friday, narrower than our expected sideway-trading range of 109.55/110.05. Momentum indicators are still ‘flat’ and further sideway-trading would not be surprising. Expected range for today, 109.55/110.00.”

Next 1-3 weeks: “There is not much to add to our update from last Thursday (19 Aug, spot at 109.90). As highlighted, USD could trade within a 109.30/110.55 range for a period of time.”