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USD/JPY Price Forecast: Scope for further upside towards 160.50 improves amid triangle breakout

The USD/JPY pair extends its four-day upside to near 159.75 during the European trading session on Thursday. The pair reflects strength as the US Dollar (USD) outperforms its peers due to rising oil prices amid the prolonged closure of the Strait of Hormuz.

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The USD/JPY pair extends its four-day upside to near 159.75 during the European trading session on Thursday. The pair reflects strength as the US Dollar (USD) outperforms its peers due to rising oil prices amid the prolonged closure of the Strait of Hormuz.