USD/JPY Price Analysis: Bulls await sustained move beyond 200-period SMA on H4 USDJPY BOJ Fed Technical Analysis Currencies
The mixed fundamental backdrop is seen holding back traders from placing aggressive bets.USD/JPY pair
A goodish pickup in the US Treasury bond yields widens the US-Japan rate differential, which, in turn, is seen weighing on the Japanese Yen and lending support to the USD/JPY pair. That said, a weaker risk tone, along with speculation that high inflation may invite a more hawkish stance from the Bank of Japan later this year, limit losses for the JPY. Apart from this, the underlying bearish sentiment surrounding the US Dollar keeps a lid on any meaningful upside for the major.
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