UOB analysts maintain a bullish outlook on USD/JPY, citing persistent upward pressure toward 160.75.
The Japanese yen weakened toward 160.75 against the US dollar as analysts at UOB Group noted mild but sustained upward momentum in the currency pair. The intraday outlook suggests potential for further gains, with resistance seen near the 160.75 level.
Recent price action reflects broader trends in USD strength, driven by diverging monetary policy expectations between the Federal Reserve and the Bank of Japan. The yen has faced consistent pressure amid low domestic yields and persistent dollar demand.
UOB analysts Quek Ser Leang and Lee Sue Ann indicated a constructive view on USD/JPY, though they cautioned that upside may be limited beyond current levels in the near term.