Dollar-Yen Spikes Toward Upper Band as Analysts Target 157.30

The Japanese Yen has continued its decline against the US Dollar, reaching a high of 156.41 in the latest trading session.

According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the USD/JPY pair surged above 156.30, with momentum still modest but supportive of further gains.

Intraday, the pair could test 156.50 while holding above support at 155.40, they noted.

Looking ahead to the next 1-3 weeks, UOB's analysts expect USD/JPY to edge higher toward 157.30, provided it stays above strong support at 154.80.