Forex Analysis by Investing.com (Damian Nowiszewski) covering: USD/JPY. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
USD/JPY struggles near 142 after weaker-than-expected economic data from Japan.For less than $9 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttoncurrency pair has remained in a broader downtrend, despite the slight increase recently. We've recently observed a slowdown around the demand zone above the key support level at 142.
The consensus suggests that the Fed will likely implement a 25 basis point cut, with further reductions expected if inflation remains stable through the end of the year. This could exert additional downward pressure on the US dollar.After a brief rebound in the demand zone around 142 yen per dollar, the USD/JPY pair is once again testing this area. Buyers remain active, but if their efforts continue to weaken, we could see a breakout and further decline.
Should the bearish trend continue, the next target for sellers would be the support level around 138 yen per dollar. Keep an eye on upcoming US inflation data, as it may provide the catalyst for a more pronounced move.This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counsel or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way.
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