Fundamental OverviewThe USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Such data keeps the interest rates expectations stable around two cuts by the end of the year and supports the risk sentiment amid a pickup in growth. The JPY in this environment should keep losing ground against the major currencies. We will likely need weak US growth data to see some sustained Yen strength, although it might be short lived if it’s not enough to make the market to price in more aggressive rate cuts for the Fed. USDJPY Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDJPY
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