The USD/JPY pair reversed its recent gains, reaching a two-week high near 157.00 during the Asian trading session on Thursday. The pair briefly tested the 157.00 level amidst steady bond-buying activity by the Bank of Japan (BoJ). However, a pause in the US Dollar's recovery and a slowdown in US Treasury yields have pulled the pair lower.
Despite this, USD/JPY remains in an uptrend across all timeframes, and as the saying goes, "the trend is your friend." This suggests that the pair may ultimately benefit from this pullback, even if it encounters resistance at the aforementioned level.
Despite this, USD/JPY remains in an uptrend across all timeframes, and as the saying goes, "the trend is your friend." This suggests that the pair may ultimately benefit from this pullback, even if it encounters resistance at the aforementioned level.
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