USDJPY Technical Analysis – The path of least resistance remains to the upside ...Middle East

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USDJPY Technical Analysis – The path of least resistance remains to the upside
Fundamental OverviewDespite some softness against the other major currencies, the USD continued to gain against the JPY as the Yen remains under pressure from risk-on sentiment due to positive global growth impulse and the stark yield differential with the Fed, which is expected to keep rates steady at least until September. In such an environment, the Yen is unlikely to catch a sustained bid. The trend will likely change only when we start to get some recessionary US data that will make the market to price in a more aggressive rate cut path. USDJPY Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDJPY reached the key swing level at 156.80. A break above that level w

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