UOB analysts forecast gradual gains for the pair toward 160.75 over 1-3 weeks if support holds above 159.60.
The USD/JPY pair closed at 160.29, up 0.17%, after trading between 159.82 and 160.34. Intraday momentum suggests a potential rise toward 160.50, though resistance at 160.75 remains unlikely to be tested immediately.
Earlier forecasts had expected range-bound trading between 159.20 and 160.30, but the pair breached 160.30, reaching 160.34. Analysts now see tentative upward momentum, with a gradual move toward 160.75 over the next 1-3 weeks if support at 159.60 holds.
Support is currently pegged at 160.05, with a drop below 159.95 signaling a potential easing of upward pressure.