US Dollar (USD) is likely to trade in a range between 147.80 and 148.85 against Japanese Yen (JPY). In the longer run, USD strength has paused for now; it is expected to trade in a range of 146.90/149.20, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The EUR/JPY pair claws back a majority of its initial losses and rises to near 172.60 during the late Asian session on Monday after a weak opening around 172.00 earlier in the day.
Japanese Prime Minister Shigeru Ishiba said he intended to stay on even as his ruling coalition is certain to lose control of the upper house in Sunday's election, per Bloomberg.