USD/JPY: Bears set to push towards testing 141.66 – UOB Group

FXStreet Insights Team FXStreet

The US Dollar (USD) is likely to range trade, probably between 143.90 and 145.10. In the longer term, USD remains under pressure, and increase in momentum has increased the chance of it reaching 141.66, UOB Group FX strategists Quek Ser Leang and Lee Sue Ann note.

Rangebound between 143.90 and 145.10

24-HOUR VIEW: “We expected USD to ‘decline further, potentially reaching 142.80.’ We highlighted that ‘to keep the momentum going, USD must remain below 145.00.’ Our expectations did not turn out, as USD rebounded from 143.43 to 144.65, closing modestly higher at 144.52 (+0.10%). Slowing downward momentum, combined with oversold conditions, suggests USD is likely to range trade today, probably between 143.90 and 145.10.”

1-3 WEEKS VIEW: “We highlighted yesterday (26 Aug, spot at 143.85) that USD ‘remains under pressure.’ We also highlighted that the increase in momentum from last Friday ‘has increased the chance of it reaching 141.66, the low registered early this month.’ While we continue to hold the same view, oversold short-term conditions could lead to a couple of days of range trading first. Overall, only a breach of 146.50 (no change in ‘strong resistance’ level) would mean that the current downward pressure has eased.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD sits at two-month lows near 0.6950 after Australian CPI data

AUD/USD is sitting at two-month lows near 0.6950 in the Asian session on Wednesday, as below-expectations August Australian underlying CPI data pours cold water on expectations for further RBA interest rate hikes. Chinese PMI data also fail to inspire the Australian Dollar, despite a pause in the US Dollar advance.

USD/JPY stays weak below 157.00 amid Japanese intervention risks

USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.

Gold eyes US PCE inflation data for next move

Gold is consolidating the previous rebound from an eight-week low of $4,110 in Asia on Wednesday, although it remains below $4,200 ahead of the US ADP jobs report and core Personal Consumption Expenditures Price Index data.

Bitcoin, Ethereum, and Ripple pause near recent highs as bullish momentum moderates

Bitcoin, Ethereum, and Ripple are showing signs of slowing bullish momentum mid-week after slight pullbacks from their recent highs. BTC faces resistance near $85,000, with ETH hovering around $2,674 and XRP holding near $1.500, as traders assess whether these top three cryptocurrencies can resume their recent rallies.

Warning: The RBI's October rate hike may be too late as oil risks mount

The Indian Rupee (INR) is one of the worst-performing Asian currencies in 2026, down about 6.5% year-to-date against the US Dollar (USD) and trading near historic lows ahead of the October 5–7 Reserve Bank of India (RBI) meeting. Economists expect the RBI to raise its repo rate by 25 basis points (bps) next month and follow up with another increase in December to counter rising retail inflation.

Silver is more volatile than Gold ahead of PCE and NFP. This chart shows the positioning gap

The market’s attention is focused on American data this week, but there’s something only those with a trained eye may be looking at: Gold and Silver positioning gap. Financial markets are moving on fears, mostly related to persistently high energy prices driven by the Middle East war. Sure, the US Dollar (USD) is strong, but at what cost?