USD/JPY Stuck in Narrow Range Near 162.50
The Japanese Yen remains trapped in a tight trading range against the US dollar, with USD/JPY hovering around 162.50 on Monday after a session range of barely 40 pips.
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The USD/JPY pair is trading near the 162.50 level on Monday, exhibiting an extremely narrow session range of just 40 pips. The pair is currently wedged between support just above 162.00 and resistance just beyond the current level.
Market participants see the yen as stuck in a stalemate that neither side seems able or willing to break. The lack of volatility suggests traders are awaiting a catalyst to move the pair out of its tight consolidation zone.
Source: FXStreet Forex News