The hourly chart sums up quite nicely the price action over the last two weeks in USD/JPY:The pair has been somewhat consolidating just below and above the 150.00 mark recently. There has been very little incentive to push higher and that is not too surprising given the bond market developments as seen here.As such, USD/JPY is seeing a well-defined range between the lower limit near 149.70 and the upper limit around 150.80. And traders are continuing to respect that, even with the sharp drop in price today.BOJ's Takata hinted at stronger wage hikes for this year and that saw the yen jump. USD/JPY is down 0.6% near the lows for the day but is not really able to break past the lower limit abov
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