USD/JPY Price Forecast: Bulls Take a Breather; Eyes on US PCE Data
The USD/JPY pair has shown some retreat after recently reaching an intraday high near the 158.00 mark, which indicates a five-month peak. The current market climate reflects a cautious approach as investors digest the recent Bank of Japan (BoJ) monetary policy update alongside strong inflation data from Japan. As risk sentiment shifts, the safe-haven Japanese Yen (JPY) gains traction against the dollar, leading to fluctuations in the currency pair. Investors should stay alert as upcoming economic data is likely to influence trends.
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