Yen ranges, despite recent volatility
The USDJPY reversed from the high of 148.45 to reach a low of 146.60 due to the weakening of the DXY. The USDJPY is likely to continue trading within a wide range, similar to the previous week, with no clear directional bias.
If the USDJPY breaks above 148.80, it could continue climbing towards 150. However, it is more likely that the USDJPY could trade lower towards 145, especially if the price breaks below the near term support of 146.60.
If the USDJPY breaks above 148.80, it could continue climbing towards 150. However, it is more likely that the USDJPY could trade lower towards 145, especially if the price breaks below the near term support of 146.60.
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