USD/JPY still holds a neutral outlook – UOB

The research team at UOB Group sees USD/JPY sticking to the neutral stance in the next 1-3 weeks.

Key Quotes

“The current extreme volatility is showing no signs of abating. USD plunged to a low of 103.30 earlier this morning before rebounding sharply and rapidly to current level”.

“USD plunged to a low of 103.30 earlier this morning but recovered within minutes back to current level. The unclear outlook is made worse by the wild swing and we prefer to hold a neutral view from here”.

“More volatility seems likely with BOJ coming up and further choppy trading can be expected, likely within a very broad 103.00/107.00 range”.