US Dollar Forecast: USD/JPY Continues to Defend January Low

US Dollar Forecast: USD/JPY Continues to Defend January Low

From forex.com

USD/JPY attempts to retrace the pullback from the weekly high (147.91) as US Jobless Claims narrows to 233K in the week ending August 2 from 250K the week prior, and looming developments in the Relative Strength Index (RSI) may show the bearish momentum abating should the oscillator recover from oversold territory. USD/JPY continues to defend the January low (141.69) following the dovish comments from Bank of Japan (BoJ) Deputy Governor Shinichi Uchida, and the exchange rate may trade within the yearly range as positive data prints coming out of the US dampens speculation for an imminent Federal Reserve rate-cut. In ... (full story)

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