USDJPY: Slipping without braking
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Hello dear friends. USDJPY continues to decline today and is trading near the round number of 147.00.
Yesterday, the USDJPY pair had a slight recovery, but the overall momentum is still uncertain and it seems that it is not enough to provide any significant reversal for USDJPY.
Important support levels have been broken one after another, and the outlook for this currency pair remains bearish with complete dominance by the Bearish side as the market bets on a series of interest rate cuts by the Fed in 2024, which will weaken the USD and weigh on USD/JPY.
Yesterday, the USDJPY pair had a slight recovery, but the overall momentum is still uncertain and it seems that it is not enough to provide any significant reversal for USDJPY.
Important support levels have been broken one after another, and the outlook for this currency pair remains bearish with complete dominance by the Bearish side as the market bets on a series of interest rate cuts by the Fed in 2024, which will weaken the USD and weigh on USD/JPY.
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