USD/JPY Rally Pushes RSI Towards Overbought Zone, Positive Data Prints Boost Exchange Rate
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#7b7dea38 ver:0.05

The USD/JPY rally continues, pushing the RSI towards overbought territory. Positive data prints and a positive risk tone in the market have boosted the exchange rate. The GBP/JPY pair has rebounded and retaken the 187.00 mark, benefiting from the positive sentiment. Investor confidence has been boosted by the prospect of a ceasefire in the Middle East. The near-term outlook for GBP/JPY is influenced by risk appetite, sentiment, and geopolitical developments. Meanwhile, the USD/JPY pair is heading higher despite soft US economic data. Traders are bullish and waiting for potential intervention measures from the Bank of Japan. The momentum favors buyers, but resistance is expected at 158.75 and 159.00. On the downside, support is at 158.00 and further downward movement could test 157.85. The USD/JPY climbs to a fresh monthly high, with positive US data pushing the RSI towards overbought territory. The Bank of Japan and Federal Reserve are on diverging paths, and the US PCE Price Index may sway the near-term outlook for USD/JPY. Lack of momentum may curb the recent series of higher highs and lows. #forex #USDJPY #GBPJPY...

#newstr #Gbp/jpy #RiskTone #Boe #InterestRates #BankOfJapan #IsraelhamasCeasefire #Usdjpy #BojIntervention #UsEconomy #RelativeStrengthIndex(rsi) #FederalReserve #Inflation #MonetaryPolicy 

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