USDJPY developments today
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"USDJPY This Week: Continuation of Uptrend or a Correction in Sight?"
Faced with the challenging question of USDJPY's direction this week, we observe that the currency pair is maintaining a remarkable upward streak, reaching 147.89 in the early trading hours of the week.
In the short term, technical indicators continue to support the upward trajectory of USDJPY. The pair is attempting a recovery after finding significant support around 148.00. This upward momentum could be further bolstered as the US Dollar Index (DXY) gains traction from bets favoring a potential interest rate cut by the Federal Reserve in March.
Faced with the challenging question of USDJPY's direction this week, we observe that the currency pair is maintaining a remarkable upward streak, reaching 147.89 in the early trading hours of the week.
In the short term, technical indicators continue to support the upward trajectory of USDJPY. The pair is attempting a recovery after finding significant support around 148.00. This upward momentum could be further bolstered as the US Dollar Index (DXY) gains traction from bets favoring a potential interest rate cut by the Federal Reserve in March.
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