The buying and selling in the USDJPY cannot be sustained in either direction
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The USDJPY has experienced significant volatility, dropping from 157.97 to a low of 157.50 before rebounding. It then reached a high of 158.16 but fell to 157.297, breaking key support levels. The market is sensitive to intervention fears, with sharp reversals occurring on upward moves. While declines have lessened in magnitude, the pair remains below the 158.00-160.00 value area. A rise above 158.00 could lead to cautious buying as traders reassess upside risks.
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