USD/JPY: Outlook remains mixed – UOB

According to FX Strategists at UOB Group, the outlook on USD/JPY remains mixed for the time being.

Key Quotes

24-hour view: “USD did not do much yesterday as it traded between 107.00 and 107.52, relatively close to our expected range of 106.90/107.50. The price action offers no fresh clues and the outlook remains mixed. For today, USD could continue to trade in an undecided manner between 106.90 and 107.50.”

Next 1-3 weeks: “USD continues to trade in an ‘undecided’ manner and there is no change to our view from Wednesday (15 Jul, spot at 107.25). As highlighted, the outlook is mixed and USD could trade between 106.70 and 107.70 for a while. Overall, the recent lackluster price actions suggest USD is not likely to embark on a sustained directional move anytime soon.”