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Analysts Quek Ser Leang and Lee Sue Ann from United Overseas Bank (UOB) reported that the USD/JPY pair is currently lacking fresh directional catalysts. This comes after recent volatile price movements saw the currency pair swing between key technical levels of 158.33 and 159.13, highlighting ongoing uncertainty in foreign exchange markets. The banking group anticipates that short-term price action for the USD/JPY pair will remain constrained within a tighter intraday trade range of 158.55 to 159.30. While the broader outlook reflects a slightly bullish tone for the Yen within its overarching range, price movements are largely bound by technical boundaries in the absence of major economic data releases. Traders are advised to monitor potential breakout levels beyond this specified consolidation channel. Any sustained shift past 159.30 or below 158.55 could signals a clearer trend direction, particularly as market participants weigh broader monetary policy differentials between the Federal Reserve and the Bank of Japan.
