UOB forecast range for USD/JPY

According to currency strategists at UOB Group the forecast for USD/JPY remains bullish and suggests a period of consolidation before further growth. They say that the fluctuations of the US dollar yesterday made a mixed outlook. Further, it is expected fluctuations to be in the range of 112.84/114.77.
The bank already have closed their long positions in the pair and have a neutral opinion about it today, they do not expect any change in the opinion of analysts. The pair is currently moving around in its early stage of the consolidation phase, as it will probably go to a very wide range of 111.50/115.00, analysts say.