The Japanese Yen (JPY) holds its position, possibly due to intervention in the foreign exchange market by the Japanese authorities.
The Japan ese Yen holds ground, possibly due to intervention in the FX market by Japan ese authorities. Japan 's Masato Kanda saidto intervene around the clock if necessary. The US Dollar edges higher as Fed officials keep delaying the timing of the first interest rate cut in 2024. The Japan ese Yen holds its position, possibly due to intervention in the foreign exchange market by the Japan ese authorities.
32, marked in April as the highest level in over thirty years, which represents a major resistance. On the downside, the immediate support appears at the nine-day Exponential Moving Average at 158.42. A breach below this level could intensify downward pressure on the USD/JPY pair, potentially driving it toward the lower boundary of the ascending channel around the level of 155.60. A break below this level could exert pressure on the pair to test the throwback support around the 152.80 level.
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