USD/JPY extends backslide as election fallout bolsters Yen

💡 DMK Insight

USD/JPY’s current range between 159.450 and 152.100 is a trader’s playground, but it’s crucial to watch for breakouts. The pair’s choppy action reflects broader market uncertainty, likely influenced by fluctuating interest rate expectations and geopolitical tensions. If it breaks above 159.450, we could see a bullish momentum shift, potentially targeting higher resistance levels. Conversely, a dip below 152.100 might trigger selling pressure, leading to a retest of lower support levels. Traders should monitor the daily chart closely for these breakout signals, as they could set the tone for the next trading cycle. Keep an eye on economic indicators, particularly any shifts in U.S. or Japanese monetary policy, as these could catalyze movement beyond the current range.