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USDJPY
USD/JPY: Likely to consolidate between 157.90 and 159.00 – UOB Group
Key Takeaways (30s Read)
USD/JPY is expected to consolidate between 157.90 and 159.00.
USD/JPY is likely to consolidate between 157.90 and 159.00. According to UOB Group's FX analysts, Quek Ser Leang and Peter Chia, this range is expected to hold in the short term. Importantly, the strong rally in the USD has potential for extension, with a breakout above 160.00 also being a possibility. This view is supported by positive U.S. economic indicators and will also be influenced by future FOMC monetary policies. Traders should focus on this range for technical trading while keeping an eye on the potential breakout above 160.00.
AI Analyst
AI Opinion
"The current dynamics of USD/JPY suggest a significant marker for market participants. The consolidation between 157.90 and 159.00 reflects the strong recovery of the USD, with the underlying strength of the U.S. economy playing a key role in holding this range. Should a breakout above 160.00 occur, further gains can be anticipated, so investors should remain vigilant around this level. However, it is equally important to pay attention to volatility, recognizing that short-term trades may carry long-term risks. An ideal strategy would involve identifying support and resistance within the current range and proceeding with trades based on clear breakout movements."
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