Home Analysis USD/JPY is consolidating the gains from previous sessions

USD/JPY is consolidating the gains from previous sessions

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USDJPY is consolidating the gains from previous sessions - forexspacex.com

USD/JPY is consolidating the gains on Thursday morning with the first red candle formation in the last nine trading sessions. The US dollar attracted some selling pressure after the Federal Reserve announced the start of the policy tightening cycle On Wednesday. The investors are waiting for the policy decisions from the Bank of Japan which is expected to keep the rates unchanged. The Japanese yen may extend the decline in response to the expensive fossil fuel if the geopolitical uncertainty continues. The relative strength index indicator is near 75 marks, which indicates the oversold condition. Therefore, a minor price correction in the short term cannot be ruled out.

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