USDJPY:
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The pair holds near elevated levels around 154.70 amid continued yen weakness and the Bank of Japan’s cautious approach to normalizing policy. In the US, yields have stabilized with a mild downward bias, partly capping further dollar strength against the yen after an extended climb.
Japan’s policy dilemma is to support the recovery while preventing excessive currency depreciation. Authorities’ signals that they are ready to react to “excessive moves” heighten market sensitivity to intervention risk. That creates conditions for corrective pullbacks in USD/JPY when it approaches local highs.
Latest summaries note persistent pressure on the yen but also the risk of sharp setbacks on dollar-negative news or comments from Tokyo. In this environment, selling from current levels with a moderate stop and a target near 154.00 is preferable.
Trade recommendation: SELL 154.70, SL 155.10, TP 154.00
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