USDJPY S

The Japanese yen declined against the US dollar, marking the sixth straight session of losses. Although the medium-term view remains bullish, some short-term indicators point to a possible pullback.

Key Indicators

• USD/JPY bulls maintained control with a powerful bullish continuation candle, but the price struggle to hold above the 50 SMA, with the 4-hour RSI rising above 80, indicating stretched conditions.
  

Fundamental Context

USD/JPY soared to a fresh 2-week high of 159.05. For this week, the main drivers for the USDJPY remain the movement of the US dollar, Fed policymakers' comments, geopolitical tensions, and April FOMC meeting minutes.