The currency pair remains range-bound after Japan’s latest growth figures had little impact on yen movement.
USD/JPY traded near 159.50 on Monday, showing minimal reaction to softer-than-expected Japanese GDP data released overnight. The pair has oscillated between support at 158.60 and resistance above 159.50 for five consecutive sessions, reflecting market indecision.
Japan’s latest economic growth report did little to alter the yen’s trajectory, as traders await clearer signals on monetary policy or external drivers. The lack of volatility suggests a temporary standoff between buyers and sellers in the absence of fresh catalysts.
No immediate market reaction was observed, with the pair continuing to consolidate within its recent range.