USD/JPY Price Forecast: Aiming to Extend Gains Above 160.00

During Tuesday's European trading session, USD/JPY was quoted at 159.74, up 0.16% on the day. The yen came under pressure amid market doubts over the Bank of Japan's ability to maintain a hawkish stance against a backdrop of growing economic concerns. At the time of writing, the currency pair had traded near 159.70.