United Overseas Bank forecasts USD/JPY trading between 156.60 and 159.60 over the next 1-3 weeks with slight downward pressure.
USD/JPY rebounded to 159.05 after dropping to 158.00, but intraday trading is expected to stay within a 158.50–159.35 range. The sharp rebound appears overdone, reducing immediate upward momentum.
UOB revised its outlook to slightly negative, citing insufficient downward momentum for a sustained decline. The pair is projected to edge lower within a 156.60–159.60 range over the next 1-3 weeks, though longer-term charts still suggest potential for an extended advance above the 21-day EMA.
Recent price movements deviated from earlier expectations, with USD failing to hold below 158.00 before recovering. Downward momentum is fading but not yet strong enough to alter the broader range-bound outlook.