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2 Apr 2025

USD/JPY: Likely to trade in a range between 149.05 and 150.20 – UOB Group

US Dollar (USD) is likely to trade in a range between 149.05 and 150.20 vs Japanese Yen (JPY). In the longer run, USD appears to have moved into a 148.40/151.00 consolidation range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY seems to be consolidating for the time being

24-HOUR VIEW: "USD briefly plummeted to 148.68 on Monday and then rebounded to close largely unchanged at 149.95 (+0.09%). Yesterday, Tuesday, when USD was at 149.80, we highlighted that 'the rebound in oversold conditions suggests instead of continuing to decline, USD is more likely to trade in a range today between 149.00 and 150.50.' USD then traded in a 148.95/150.14 range, before closing at 149.61, lower by 0.23%. The price action provides no further clues, and we continue to expect range-trading, likely between 149.05 and 150.20."

1-3 WEEKS VIEW: "Not much has changed since our update yesterday (01 Apr, spot at 149.80). As highlighted, USD 'appears to have moved into a consolidation phase and it is expected to trade in a 148.40/151.00 range for now.”

Apr 2, 2025

USD/CNH: Inability to hold 7.22 can lead to a deeper pullback – Societe Generale

USD/CNH recently tested the 200-DMA at 7.22 resulting in a brief rebound, Societe Generale's FX analysts report.
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Apr 2, 2025

S&P 500: Next downward objectives are at 5400/5390pts and 5300pts – Societe Generale

S&P 500 has so far defended the low of last down leg near 5500pts, which is also an ascending trend line connecting troughs of April 2024/August 2024, Societe Generale's FX analysts report.
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