USD/JPY: High achieved last week at 156.25 could cap upside – BBH

USD/JPY recently formed a lower peak near 158.85 than the one achieved last year at 162, BBH FX analysts report.

Next bearish objectives are located at 151.50 and 151.00/150.80

"Daily MACD has been posting negative divergence and has now dipped below equilibrium line highlighting regain of downward momentum. This is also highlighted by break below a multi-month ascending trend line. The pair is now close to the 200-DMA at 152.80/152.50 which could be a potential support, but signals of a large bounce are not yet visible."

"High achieved last week at 156.25 could cap upside. Below the MA, next objectives are located at 151.50, the 38.2% retracement from September and projections at 151.00/150.80."

Feb 5, 2025

USD/JPY: USD is likely to trade in a range – UOB Group

US Dollar (USD) is under mild downward pressure; it could edge lower, but any decline is unlikely to break below 153.70. In the longer run, for the time being, USD is likely to trade in a 153.70/156.70 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/CNH: Likely to trade in a lower range of 7.2680/1.3200 – UOB Group

Instead of continuing to decline, US Dollar (USD) more likely to trade in a lower range of 7.2680/1.3200. In the longer run, outlook is mixed; USD could trade in a 7.2430/7.3580 range for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.