The US Dollar maintains its bullish stance against the Japanese Yen as USD/JPY holds firm above critical support at 161.10, according to United Overseas Bank currency strategists Quek Ser Leang and Lee Sue Ann. The pair is currently trading around 161.78, showing limited volatility while preserving upward momentum.
UOB’s continued constructive outlook signals the bearish trajectory for the yen remains intact despite recent consolidation. The 161.10 level has proven resilient as a technical floor, suggesting buyers are defending this zone aggressively. This positioning comes as markets navigate diverging monetary policy expectations between the Federal Reserve and Bank of Japan.
Currency traders and forex desks should monitor this support level closely, as a sustained break below 161.10 could trigger technical selling and shift near-term dynamics. Conversely, the pair’s ability to maintain current levels reinforces dollar strength against the yen.
FXnCO Insight
USD/JPY traders should watch 161.10 as the critical support threshold—holding above this level keeps the bearish yen bias alive and favors dollar positioning in the near term.
Source: FXStreet