UOB analysts see limited near-term gains for USD/JPY, with trading expected between 160.60 and 163.00 over the next 1-3 weeks.
USD/JPY rebounded to close at 161.69 after a sharp drop to 161.26, stabilizing following intraday volatility. Gains are expected to remain capped between 161.60 and 162.45 in the near term.
The pair’s outlook for the next 1-3 weeks is mixed, with support at 160.60 and resistance at 163.00. A break above the 21-day EMA near 161.00 could signal further upside over 1-3 months.
No immediate market reaction was noted, as the pair continues to trade within the defined range.