USD/JPY keeps the neutral stance near term – UOB

In view of FX Strategists at UOB Group, the pair remains poised for a continuation of the sideline theme in the next weeks.

Key Quotes

24-hour view: “The anticipated rebound was weaker than expected as USD eased off after touching a high of 109.71. Indicators are mostly ‘neutral’ now which suggests sideway trading from here. Expected range for today; 108.80/109.70”.

Next 1-3 weeks: “This pair traded in a relatively quiet manner compared to major currency pairs. The outlook remains mixed and we continue to expect USD to trade sideways, likely within a broad 108.00/110.50 range”.