USDJPY: become cautious
Currently, USDJPY is displaying a sideways trend on the chart. There are two important levels to note: resistance at 148.15 and support at 147.28.
The market is currently cautious, especially with upcoming policy announcements from the Fed, which could potentially increase the value of the US dollar, even though US bond yields are weak. Additionally, the bleak economic situation in Japan is also impacting this currency pair. Attention is now focused on the Fed, as any new decisions from them could cause significant fluctuations in the direction of USDJPY.
There is a possibility that this major currency pair may decline. What are your thoughts on this? Feel free to share your perspective!
The market is currently cautious, especially with upcoming policy announcements from the Fed, which could potentially increase the value of the US dollar, even though US bond yields are weak. Additionally, the bleak economic situation in Japan is also impacting this currency pair. Attention is now focused on the Fed, as any new decisions from them could cause significant fluctuations in the direction of USDJPY.
There is a possibility that this major currency pair may decline. What are your thoughts on this? Feel free to share your perspective!
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