USD/JPY sticks to the consolidative phase – UOB

Pablo Piovano FXStreet

Further range bound trade is likely in USD/JPY for the time being, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: USD traded in a relatively quiet manner between 149.54 and 149.98 yesterday before closing little changed at 149.70 (-0.09%0. The quiet price action is likely part of a consolidation phase. Today, USD is likely to trade in a range between 149.30 and 150.00.

Next 1-3 weeks: Over the past week or so, USD traded in a relatively quiet manner. There is no clear directional bias for now, and USD is likely to trade in a range of 149.00/150.50 for the time being.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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