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fxJul 7, 2026, 6:25 AM

USD/JPY Consolidation Seen in 160.60-163.00 Range – UOB

UOB's Quek Ser Leang notes USD/JPY surged to 162.42 before closing at 162.08, leaving the pair overbought. Intraday consolidation expected between 161.50 and the broader 160.60–163.00 range.

USDJPY

United Overseas Bank (UOB) analyst Quek Ser Leang reports that USD/JPY rallied to a high of 162.42 before settling at 162.08, a move that left the pair technically overbought. The strong surge suggests limited follow-through in the near term.

The bank expects the pair to consolidate intraday, with a narrow zone between 161.50 and the wider 160.60–163.00 range. The mixed outlook implies a neutral bias for the session, as traders weigh the overbought condition against the recent bullish momentum.

Source: FXStreet Forex News