USD/JPY: Likely to trade in a range between 146.80 and 147.85 – UOB Group

US Dollar (USD) is likely to trade in a range between 146.80 and 147.85. In the longer run, USD has likely moved back into a range-trading phase between 146.50 and 148.80, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

USD has likely moved back into a range-trading phase

24-HOUR VIEW: "Our view for USD to 'rebound further' last Friday was incorrect, as it dropped to 146.73 before recovering to close at 147.18 (-0.39%). The price movements did not result in any increase in either downward or upward momentum. Today, we expect range-trading, most likely between 146.80 and 147.85."

1-3 WEEKS VIEW: "We continue to hold the same view as last Friday (15 Aug, spot at 147.15). As highlighted, USD 'has likely moved back into a range-trading phase, probably between 146.50 and 148.80.”