USD/JPY clings to the range bound theme near term – UOB – by pabspiovano USDJPY Currencies Majors Banks
24-hour view: “We highlighted yesterday that ‘the bias for USD today is tilted to the downside’ but we were of the view that ‘any weakness is likely limited to a test of 142.20’. Our expectations did not materialize as USD traded within a range of 142.63/143.64. The underlying tone still appears to be on the soft side and we continue to see downside bias in USD. That said, any weakness is unlikely to break 142.20 . Resistance can be found at 143.35 followed by 143.70.
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