USD/JPY Range-Bound Intraday, Yen Weakens Toward 160.75 – UOB
UOB analysts note USD/JPY is range-bound between 159.90 and 160.40 intraday after a brief spike and reversal, while maintaining a slightly positive multi-day outlook as the yen gradually weakens toward 160.75.
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UOB Group's Quek Ser Leang and Lee Sue Ann describe the USD/JPY pair as range-bound in the intraday session, trading between 159.90 and 160.40 following a brief spike and subsequent reversal.
Despite the short-term volatility, the analysts maintain a slightly positive multi-day bias, expecting the Japanese yen to continue its gradual weakening toward the 160.75 level against the US dollar.
Source: FXStreet Forex News