Further rangebound seen in USD/JPY – UOB
USD/JPY is forecasted to stick to the 105.00/106.00 range, for the time being, noted FX Strategists at UOB Group.
Key Quotes
“USD traded between 105.69 and 106.19 yesterday before settling little changed at 105.95 (+0.04%). The underlying tone has firmed somewhat and this could lead to USD edging higher towards 106.40. For today, a sustained rise above this level is not expected (next resistance is at 106.60). Support is at 105.85 followed by 105.65.”