UOB analysts forecast additional upside for USD/JPY, targeting 160.75 as momentum builds above 160.00.
The Japanese yen weakened against the US dollar, with USD/JPY holding above 160.00 and closing at 160.25. Analysts noted mild upward momentum, suggesting a potential move toward 160.50 in the near term.
Resistance at 160.75 remains a key level, though it is not expected to be breached immediately. The pair’s recent strength follows a sustained push above psychological support at 160.00.
No immediate market reaction was specified, but the outlook points to further yen depreciation if momentum persists.