Analyst: USD/JPY bulls wary of bullish breakout, pullbacks may attract buyers

ChainCatcher news, according to Gelonghui, StoneX analyst Matt Simpson stated that the bullish sentiment for the USD/JPY is highly alert to a bullish breakout on the chart. The analyst pointed out that this rise has reversed last week's bearish trend. He believes that whether the USD/JPY can continue to rise may depend on the confirmation of whether Japan's new Prime Minister can influence the Bank of Japan's interest rate hike path. Simpson added, "However, at the moment, it seems that the exchange rate pullbacks easily attract buyers."