Strategic Outlook for USDJPY Today:
The USDJPY pair is currently facing a ceiling under the resistance level at 151.700. The downward momentum seems favored as the Japanese Yen strengthens against the US Dollar, buoyed by Japan's heated inflation data for February, bolstering investor confidence in the Bank of Japan's (BoJ) shift towards policy normalization. This asset is under pressure despite a strengthening US Dollar amid significantly improved US economic outlooks.
As long as the resistance remains intact, USDJPY is at risk of further declines.
The USDJPY pair is currently facing a ceiling under the resistance level at 151.700. The downward momentum seems favored as the Japanese Yen strengthens against the US Dollar, buoyed by Japan's heated inflation data for February, bolstering investor confidence in the Bank of Japan's (BoJ) shift towards policy normalization. This asset is under pressure despite a strengthening US Dollar amid significantly improved US economic outlooks.
As long as the resistance remains intact, USDJPY is at risk of further declines.
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