USD/JPY: Near-term outlook remains unclear – UOB

USD/JPY remains side-lined within the 145.90-150.50 range for the time being, argue UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.

Key Quotes

24-hour view: Yesterday, we highlighted that “the outlook for USD remains mixed,” and we expected it trade between 148.00 and 149.55. USD then traded in a narrower range than expected (148.25/149.13). The price action offers no fresh clues, and today, we expected USD to trade between 148.00 and 149.20. 

Next 1-3 weeks: There is not much to add to our update from Wednesday (04 Oct, spot at 149.10). As highlighted, the sharp fluctuations earlier this week have mudded the outlook. For the time being, USD could trade in a broad range of 145.90/150.50.