According to United Overseas Bank's (UOB) Quek Ser Leang and Lee Sue Ann, the USD/JPY pair closed little changed at 159.41 after a brief dip to 158.58 followed by a rebound to 159.54.
The analysts noted that intraday, the pair is expected to trade between 158.70 and 159.70, with an upside-tilted bias over the next 1-3 weeks.
They view any advance as part of a broader range of 157.00-160.20 rather than a fresh trend.
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