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USDJPY – 25 Sep 2024

USDJPY 25 Sep 2024

On the daily timeframe, USDJPY has not been able to regain strength and get above the kumo after starting a downward trend since early July. The pair dropped from a price position of 161.667 to currently sit at 143.261, influenced by the bearish pressure that continues to dominate. Looking at the stochastic indicator, the pair is already showing signs of saturation due to being overbought, indicating the possibility of further price weakness in the next session. However, if factors emerge that are strong enough to encourage bullishness in the short term, there is a possibility that the pair will experience temporary strengthening. Traders need to pay attention to external factors before making a decision.

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