USD/JPY analysis: Remains below 109.60

USD/JPY 

The USD/JPY currency pair failed to break the resistance level at 109.70 on Thursday. As a result, the US Dollar declined by 43 pips or 0.39% against the Japanese Yen during Thursday’s trading session.

As for the near future, the exchange rate could continue to trade within the 109.75/109.20 levels.

However, technical indicators suggest that the currency exchange rate is likely to continue to trend bearish during the following trading session.

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