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April, 24 - USD/JPY remains confined in a one-week-old narrow trading band

The USD/JPY pair extended its sideways consolidative price action

 

usdjpy24042020and remained confined in a narrow trading band, just above mid-107.00s.

The pair has been oscillating in 70-80 pips over the past one week or so and struggled for a firm near-term direction as investors seemed to wait for a fresh catalyst before placing any aggressive bets.

The pair did get a goodish intraday lift on Thursday after reports indicated that the Bank of Japan (BoJ) was planning to remove the bond-buying limit, albeit failed to capitalize on the move beyond the 108.00 mark.

Lang

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