The USD/JPY pair attracts some sellers during the Asian session on Thursday and for now, seems to have snapped a three-day winning streak back closer
USD/JPY meets with some supply on Thursday and snaps a three-day winning streak. Intervention fears and the Israel-Hamas war underpin the JPY and exert some pressure. Hawkish Fed expectations continue to benefit the USD and should limit deeper losses. to the 150.00 psychological mark. Spot prices currently trade around the 149.75 region, down just over 0.10% for the day, though the downside seems cushioned in the wake of the underlying bullish sentiment surrounding the US Dollar .
Market participants will look for cues about the Fed's future rate-hike path, which will play a key role in influencing the USD price dynamics and determining the near-term trajectory for the major. Heading into the key event risks, traders might look to the US economic data – the usual Weekly Initial Jobless Claims, the Philly Fed Manufacturing Index and Existing Home Sales data to grab short-term opportunities around the USD/JPY pair.
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