USD/JPY Set for Range Trading Between 149.00 and 150.50
The US Dollar (USD) is expected to trade within a specified range of 149.00 to 150.50 against the Japanese Yen (JPY). Analysts from UOB Group, including Quek Ser Leang and Peter Chia, indicate that instead of continuing its decline, the USD is more likely to stabilize within this designated range. Moreover, the long-term outlook suggests the USD may enter a consolidation phase between 148.40 and 151.00. Traders should prepare for potential fluctuations as the market reacts to upcoming economic data.