USD/JPY faces further range bound near term – UOB – by pabspiovano USDJPY Currencies Majors Banks
is now expected to navigate the 130.50-134.50 range in the next weeks, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We highlighted last Friday that USD ‘could continue to rise but it is unlikely to challenge the major resistance at 135.00’. While our view was not wrong as USD rose to 134.77, the sharp selloff from the high came as a surprise . While deep in oversold territory, the weakness in USD could extend to 131.
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