The USD/JPY pair struggles to capitalize on Friday's positive move and opens with a modest bearish gap on the first day of a new week. Spot prices, ho
USD/JPY opens with a modest bearish gap on Monday, though lacks any follow-through selling. Escalating geopolitical tensions in the Middle East benefits the JPY and exerts some pressure. Subdued USD price action fails to provide any meaningful impetus amid intervention fears. wever, manage to rebound a few pips from sub-149.
This, in turn, holds back the USD bulls from placing fresh bets and caps the upside for the USD/JPY pair. Traders also seem reluctant and prefer to wait on the sidelines ahead of this week's release of the FOMC monetary policy meeting minutes on Wednesday, followed by the latest US consumer inflation figures on Thursday.
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