USD/JPY struggles to hold gains, eyes bearish move.

The USD/JPY pair is struggling to gain momentum after its overnight rebound from the 133.75 area, which was a one-week low. During the Asian session on Friday, the pair has been trading in a narrow range and is currently hovering just above the mid-134.00s with no significant change for the day. The USD/JPY pair is being influenced by conflicting forces, making it difficult to predict its direction.

Despite an intraday uptick to the 134.85 region, the USD/JPY pair is drawing in fresh sellers and has fallen lower for the second consecutive day on Thursday. During the early North American session, spot prices continued to decline and dropped to a one-week low of around 133.75. Our analysis suggests that the USD/JPY pair may continue to follow a bearish trend.