According to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann, the Japanese Yen traded in a narrow band against the US Dollar, with USD/JPY holding around 159.35 and closing little changed at 159.39, a modest increase of 0.06% [1]. The analysts observed a slight uptick in upward momentum but expect this to result in a higher trading range of 159.15 to 159.65, rather than a sustained advance [1].
For the coming weeks, UOB maintains a neutral stance, anticipating range-bound price action between 157.90 and 159.80 [1]. The recent trading activity has been described as quiet, reinforcing the expectation that the USD/JPY pair will remain confined within this broad band [1].
No significant market reactions or major shifts in sentiment were reported, and the outlook remains cautious with no indication of imminent breakout or directional bias [1].
CONCLUSION
UOB analysts expect the USD/JPY pair to continue trading within a defined range, with no clear trend emerging in the near term. Market participants are likely to see limited volatility, as the neutral outlook persists.