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USD/JPY corrects further to near 155.80, gives up entire BoJ policy-led gains
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Key Takeaways (30s Read)
USD/JPY trades near 155.80, giving up gains from Bank of Japan policy.
USD/JPY Shows Further Correction
The USD/JPY pair trades 0.23% lower, around 155.80 during the European session. This decline extends the losing streak into a third consecutive day, having started after failing to gain further above an almost 11-month high near 158.00. Earlier this week, the USD/JPY attempted to reach near 158.00 but faced resistance, preventing further upward movement. This failure has prompted investors to take profits, increasing downward pressure. The vicinity of 155.80 acts as a psychological level, drawing attention to potential future movements. Market sentiment remains bearish, with selling pressure continuing while technical indicators suggest a downward trend. Future movements may be influenced by U.S. economic data and upcoming Bank of Japan policy updates.AI Analyst
AI Opinion
"The current trend in USD/JPY reflects market instability. Although influenced by Bank of Japan policies, the market ultimately diverged from expectations. The level around 155.80 will be watched closely as a potential support line. Depending on forthcoming economic data, further declines or reversals could be suggested, so traders should monitor market movements carefully. As selling pressure increases and technical indicators point downwards, the short-term outlook for this pair appears significantly uncertain. Effective risk management will be crucial for positions going forward."
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