USD/JPY Slightly Lower, Technical Analysis.
USD/JPY edged lower, dropping from 149.10 to near 147.35. Usd/JPY surged from 141.65 to 149.01 last week. A surge in crude oil due to geopolitical tensions in the Middle East weighed on the yen.
With $5 billion in short positions held by traders, short positions will surely fall, but it is unlikely that speculators will bet against the yen.
Technically, USD/JPY may move up in the daily Ichimoku cloud zone of 146.89-151.82.
With $5 billion in short positions held by traders, short positions will surely fall, but it is unlikely that speculators will bet against the yen.
Technically, USD/JPY may move up in the daily Ichimoku cloud zone of 146.89-151.82.
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