Japanese Yen: Range-bound trading outlook against US Dollar – UOB

United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann describe USD/JPY as remaining in a range-trading phase. For the 24-hour view they see the Dollar fluctuating between 158.95 and 159.50 after recent narrow ranges and little-changed closes. Over a 1–3 week horizon, they expect USD/JPY to stay confined between 157.90 and 159.80, while the 1–3 month view allows for further gains if key support holds.

Dollar seen holding tight ranges

"24-HOUR VIEW: On Monday, USD traded within a range of 158.59/159.28 and closed little changed at 159.08 (+0.09%). Yesterday, we indicated that “the price action appears to be part of a range-trading phase, but the firmer underlying tone suggests USD is likely to trade in a higher range of 158.80/159.45 today.” USD then traded between 158.99 and 159.48, closing little changed at 159.16 (+0.05%). The price action provides no fresh clues. Today, USD could trade between 158.95 and 159.50."

"1-3 WEEKS VIEW: Not much has changed since our update yesterday (25 Aug, spot at 159.15). As highlighted, USD “is likely to trade in a range between 157.90 and 159.80.” "