Institution: affected by the oil prices, the Japanese yen may fall towards the 160 level.

Takafumi Onodera, head of sales and trading at Mitsubishi UFJ Trust Bank in New York, said that the tense situation in the Middle East has led to high oil prices and high interest rates persisting, and the USD/JPY exchange rate may rise to 160 yen. Although it is expected that the Japanese authorities will issue verbal warnings in the 155-160 range, actual intervention remains challenging as the weakness of the yen is due to external shocks such as geopolitical risks, rather than fundamentals.