UOB Sees USD/JPY Pushing Higher Toward 160.55

According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the USD/JPY pair has retreated from its high of 160.20 after a sharp rise last week. The experts expect intraday price action to remain between 159.50 and 160.15 as upward pressure eases.

Looking ahead to the next 1-3 weeks, they maintain a slightly positive stance on the pair's potential to move higher toward 160.55, provided that support at 159.20 holds.

The uptrend remains intact above the 21-day EMA (Exponential Moving Average), indicating that the dollar-yen pair is still in an upward trend.