USD/JPY May Weaken to 160.75 – UOB Analysts
UOB analysts Quek Ser Leang and Lee Sue Ann see USD/JPY range-bound intraday between 159.90 and 160.40 but maintain a slightly positive multi-day outlook, with potential to weaken toward 160.75.
USDJPY
UOB FX analysts Quek Ser Leang and Lee Sue Ann noted that USD/JPY is range-bound in the intraday session, trading between 159.90 and 160.40 after a brief spike and reversal.
Despite the short-term sideways move, the analysts maintain a slightly positive multi-day bias. They expect the yen to weaken further, potentially pushing USD/JPY toward the 160.75 level.
The outlook is based on current price action and momentum, without any specific catalyst cited in their assessment.
Source: FXStreet Forex News