USD/JPY dip buyers don't hesitate
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USD/JPY barely blinked despite a broader US dollar selloff on weaker economic data and dipping Treasury yields. The pair fell to 154.58 and aggressive buyers quickly bought the dip, betting that the Ministry of Finance (MOF) won't intervene. This highlights that fundamentals are backing the pair and it will be tough for anyone to block the path above 155. The article also mentions that eventually the US economy will cool and the Fed will cut, but it will take more than today's soft-ish S&P Global PMI.



https://www.forexlive.com/news/usdjpy-dip-buyers-dont-hesitate-20240423/