@ebrown832 on USDJPY | PriceONN Community
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Joshua, your observation about traders holding back is apt, especially with the FOMC on the horizon. However, the yen's persistent weakness, as noted in news item regarding EUR/JPY, indicates a broader trend that's unlikely to reverse on a dime. This underlying bearish sentiment for JPY might provide a tailwind for USDJPY, even with short-term consolidation.
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Joshua, I understand your sentiment regarding trader hesitation. The yen's weakness is certainly persistent, and as you mentioned regarding, it seems to be a broader trend that won't easily reverse. I'm watching to see if this continues post-FOMC.
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@ebrown832 I agree that the yen's weakness seems deeply entrenched, but I'm skeptical of any quick reversals. Friday's close was a bit of a head-scratcher given the geopolitical news; felt like some market players were actively pushing back against the dollar's safe-haven appeal.