#USDJPY @ 148.882 faces some near-term consolidation – UOB
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According to UOB Group’s Markets Strategist Quek Ser Leang and Economist Lee Sue Ann, USD/JPY is now expected to trade between 144.00 and 152.00 in the next few weeks.
24-hour view: “Yesterday, USD traded in a volatile manner and within a wide range (145.61/149.69) before settling at 148.96. The volatile price actions have resulted in a mixed outlook and USD could continue to trade in a choppy manner for today, likely between 147.40 and 150.10.”
Next 1-3 weeks: “The highly volatile price actions in USD over the past couple of days have resulted in a mixed outlook. Further volatility is not ruled out and USD could trade within a wide range of 144.00/152.00 for the time being.”
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