The Japanese Yen (JPY) is extending its advance against the US Dollar (USD) on Tuesday, with the USD/JPY pair falling for a second consecutive day. At the time of writing, USD/JPY is trading around 146.56, down nearly 0.55% on the day and marking its lowest level since September 9.
US Dollar (USD) is likely to trade in a range between 147.00 and 147.60. In the longer run, a narrower range of 146.20/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 06:00 GMT.