$USDJPY trading - $USD Looking for Buyers Underneath
It's important to pay attention to the bond markets and the overall strength of the US dollar. If the US dollar starts to sell off, the Japanese yen is expected to perform well. The Bank of Japan's policy decisions and economic indicators, such as the 10-year JGB, will also play a significant role in the market's movements.
Ultimately, the market is currently looking for a floor, and the yen is expected to perform well if the US dollar weakens. The ¥130 level offers psychological support, while theabove provide resistance. It's important to monitor the Bank of Japan's monetary policy decisions and the broader economic indicators in the bond markets.
As the market approaches a major support level, traders should remain cautious and be prepared to adjust their positions accordingly.
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