USD/JPY Rangebound at 159.00 as UOB Sees Choppiness Persist

The Japanese Yen's price action remains choppy against the US Dollar, according to United Overseas Bank's (UOB) Quek Ser Leang. The USD/JPY pair closed at around 159.30 after dipping to a low of 158.58.

Intraday direction is unclear, with trading expected between 158.80 and 159.60. Over the next one to three weeks, UOB notes that the bias stays tilted to the upside but gains are seen constrained within a range of 158.00-160.20.