According to UOB analysts Quek Ser Leang and Lee Sue Ann, the USD/JPY currency pair experienced a sharp decline to 161.26 during the early Asian session last Friday, before rebounding to close at 161.69, marking a 0.42% decrease for the day [1]. The analysts note that the recent price action indicates stabilization following the sharp drop, with intraday gains expected to be capped within the 161.60 to 162.45 range [1].
For the next 1–3 weeks, UOB maintains a mixed outlook for USD/JPY, projecting that the pair will likely trade between the major levels of 160.60 and 163.00 [1]. The analysts highlight that the recent movements provide no new directional clues, reinforcing the expectation of range-bound trading in the near term [1].
Looking further ahead, UOB suggests that additional gains in USD/JPY are possible over the next 1–3 months, provided the pair remains above the 21-day exponential moving average (EMA), which is currently near 161.00 [1]. No specific market reactions or analyst opinions beyond these technical observations are mentioned in the source article.
CONCLUSION
UOB analysts describe the USD/JPY outlook as mixed, with the pair expected to trade within a defined range in the coming weeks. While short-term price action appears stable, further gains are possible if the pair holds above the 21-day EMA. Market participants are likely to monitor these technical levels for future direction.