Analysts forecast a test of 159.00 for the pair, though sustaining levels above may prove challenging.
The Japanese yen weakened further against the US dollar, with USD/JPY approaching 158.84, as pressure builds near the 159.00 mark. UOB analysts maintain a constructive outlook, anticipating an intraday push above this level.
Recent movements follow a broader trend of yen depreciation, though analysts note that holding above 159.00 remains uncertain. The next resistance level is seen at 159.40, which is considered distant for now.
Market focus remains on potential interventions or shifts in monetary policy that could alter the pair’s trajectory.