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7 May 2025

USD/JPY: Likely to consolidate in a 142.20/144.00 range – UOB Group

US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY has likely entered a consolidation phase

24-HOUR VIEW: "Yesterday, we expected USD to trade in a 143.40/144.85 range. However, USD plunged and closed at 142.41 (-0.90%). USD rebounded strongly after the NY close. The rebound, coupled with slowing momentum and oversold conditions, suggests USD will likely consolidate. Expected range for today: 142.20/144.00."

1-3 WEEKS VIEW: "The following are excerpts from our update yesterday, 06 May, when USD was at 144.00: 'The initial rebound from the late April low of 139.86 has been strong, but upward momentum has since slowed. USD has likely entered a consolidation phase, and it is likely to trade between 142.20 and 146.70 for now.' Our update still stands. Looking ahead, should USD break and hold below 142.20, it could trigger a deeper pullback."

May 7, 2025

NZD holds firm despite mixed jobs data – BBH

NZD/USD is consolidating recent gains around 0.6000. New Zealand’s Q1 labor market data was mixed and still argues for additional RBNZ easing, BBH FX analysts report.
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May 7, 2025

USD/JPY fails at key resistance – Société Générale

USD/JPY struggles to sustain upward momentum, with a failure at key resistance and risks building for a deeper pullback toward 140 and below, Société Générale's FX analysts note.
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