UOB analysts forecast limited movement for the yen against the dollar, citing resistance at 162.70 and support at 160.60.
The Japanese yen traded within a narrow range against the US dollar, closing at 162.23 after fluctuating between 161.62 and 162.47. The pair failed to break resistance at 162.70, signaling potential consolidation.
Analysts at UOB Group expect USD/JPY to remain range-bound between 160.60 and 163.00 in the near term. The intraday trading band was observed between 161.75 and 162.47, reflecting subdued volatility.
No immediate market reaction was reported, as the pair continues to reflect broader dollar strength and yen weakness amid diverging monetary policy expectations.