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Analysts: Dollar against Yen long positions beware of bullish breakout, pullback may attract buyers to get on board.
According to Mars Finance, StoneX analyst Matt Simpson stated that the bulls of the US dollar against the Japanese yen are highly alert to the bullish breakout appearing on the chart. This analyst pointed out that this rise has reversed last week's bearish tendency. He believes that whether the US dollar against the Japanese yen can continue to rise may depend on the confirmation of whether Japan's new Prime Minister can influence the Central Bank's interest rate hike path. Simpson added, "However, it seems that the exchange rate tends to attract buyers to get on board during pullbacks."