FXStreet reported Thursday that United Overseas Bank (UOB) Senior Technical Strategist Quek Ser Leang and UOB Economist Lee Sue Ann expect USD/JPY to trade between 157.00 and 158.60 over one to three weeks, ahead of the Bank of Japan’s (BOJ) scheduled Oct. 29-30 policy meeting.
The outlet also attributed a 24-hour range of 157.70 to 158.45 to the strategists. It said the pair had traded from 157.63 to 158.34 in the previous session, closing near 157.82, down 0.08%.
A UOB FX Insights note dated Oct. 27 had set a different 24-hour range, from 156.90 to 157.80. The bank treated 157.80 as a threshold: above that level, it expected the market to move sideways rather than continue falling. FXStreet’s Oct. 28 account said the pair had reached 157.97 and reported UOB’s broader one-to-three-week range.
The BOJ’s Oct. 28 rate sheet recorded the dollar at 157.78-157.80 yen at 4 a.m. EDT (08:00 UTC), with a daily range of 157.76-158.03. That official observation provides a separate snapshot from the figures FXStreet reported for the previous session.
EconoTimes previously covered another FXStreet-reported UOB dollar-yen range view. The BOJ’s calendar lists its October Outlook Report for Oct. 30, the final day of the scheduled policy meeting.
