USD/JPY keeps navigating within the 103.70-105.30 range - UOB

Market news

26 November 2020

USD/JPY keeps navigating within the 103.70-105.30 range - UOB

FXStreet reports that in the opinion of FX Strategists at UOB Group, USD/JPY is seen between 103.70 and 105.30 in the short-term horizon.

24-hour view: “USD traded between 104.24 and 104.59 yesterday before closing little changed at 104.45 (+0.02%). The range was narrower than our expected range of 104.20/104.80. The price actions offer no fresh clues and further sideway trading would not be surprising. Expected range for today, 104.15/104.60.”

Next 1-3 weeks: “...the current movement is viewed as the early stages of a consolidation phase and USD is likely to trade between 103.70 and 105.30 for now.”

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