USD/JPY still seen within 110.35/111.80 – UOB

The pair remains neutral and poised to extend the consolidation, likely between 110.35 and 111.80 for the time being.

Key Quotes

24-hour view: “USD traded sideways as expected albeit at a narrower range than anticipated. The quiet consolidation offers no fresh clue and further range trading seems likely for today, expected to be between 110.90 and 111.35”.

Next 1-3 weeks: “We continue to view the current movement as part of a neutral consolidation phase and expect USD to trade sideways for now, likely between 110.35 and 111.80”.

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