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fxJun 23, 2026, 7:51 AM

USD/JPY Has Scope to Revisit 2024 Low – UOB

UOB analysts note sharp intraday swings in USD/JPY after the pair spiked to 161.92, and see scope for a revisit of the 2024 low against the US dollar.

USDJPY

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann point out that USD/JPY experienced considerable intraday volatility, surging to 161.92 before retreating to 161.06. According to their analysis, the pair still has room to test the 2024 low versus the US dollar.

The sharp moves underscore ongoing uncertainty in yen positioning, with traders weighing intervention risks and divergent monetary policies. UOB's view suggests a continued bullish bias for USD/JPY in the near term.

Source: FXStreet Forex News