USD/JPY extends gains for a second day as safe-haven demand and fiscal headwinds weigh on the yen, though the pair remains capped below the 158.00 level in early European trading.
The USD/JPY pair is experiencing upward momentum for the second consecutive session as market participants weigh Japanese fiscal instability against broader geopolitical tensions in the Middle East. Despite this buying interest, the pair remains constrained below the 158.00 level, reflecting a cautious market environment during the early European session.
The pair is showing a bullish bias for the second straight day but is struggling to break above the 158.00 resistance level.
The USD/JPY pair maintains upward momentum for the second consecutive session, supported by ongoing Japanese fiscal concerns and geopolitical instability in the Middle East. Despite the bullish sentiment, the pair struggles to sustain a breakout, currently trading just below the 158.00 threshold during the European morning session.
The pair is being driven by a combination of Japanese fiscal challenges and geopolitical jitters in the Middle East, which are weakening the yen and bolstering the dollar.