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In summary, USDJPY could continue to face bearish pressure after its significant drop, but there is potential for bullish activity if the price remains above 155.00.
Tertiary Industry Activity Index numbers may influence investor appetite for the USD/JPY on Tuesday, July 16. Economists expect the Index to rise by 0.1% in May after a 1.9% increase in April.
The USD/JPY forecast is pessimistic as the yen remains close to a 4-week peak following Bank of Japan intervention on Thursday.
33.70% of traders are net-long Short-to-long ratio: 1.97 to 1 Net-long positions: +3.00% daily, +44.66% weekly Net-short positions: +0.69% daily, -28.67% weekly While the contrarian view suggests ...
The USD/JPY tumbled 1.78% to 157.900 for the week ending July 12. It rose to a Wednesday high of 161.807 before sliding to a Friday low of 157.355. Investors speculated about a possible intervention ...