USD/JPY edges up, short-term bounce toward 160 likely
The Japanese yen weakened on Tuesday after a strong rally in previous sessions, with analysts eyeing a possible move toward the 160 level.
USDJPY
The yen slipped against the dollar in Asian trading, falling 0.25% to around 157.60 after a rare period of outperformance in recent days. The move snapped a streak of yen gains that had taken the pair lower.
Analysts suggest a short-term respite is in play, with USD/JPY expected to recover toward the 160.00 mark. The outlook reflects a temporary pullback from the Japanese currency's strength.
Source: FXStreet Forex News