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United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann anticipate a near-term rebound in the USD/JPY pair following a bounce from oversold levels, but caution that gains may struggle to surpass the 159.60 resistance. The pair has been consolidating after a sharp decline earlier this year, with technical indicators suggesting a potential pullback. UOB economists emphasize that a sustained break above 159.60 could open the door for further gains, while a failure to hold this level might trigger a decline toward 157.50. For traders, the 159.60-157.50 range represents a critical battleground for short-term positioning. Broader market factors, including U.S. Federal Reserve policy and Japanese monetary stimulus, will likely influence the pair’s trajectory. Investors should monitor upcoming central bank statements and economic data releases for clues on the USD/JPY’s direction.
