6J1!: Yen Steady as Dollar Recovers: Reversal Watch

The Japanese Yen maintains its strength in relation to the recovering US Dollar. However, recent improvements in global risk sentiment are beginning to weaken the JPY's appeal as a safe-haven currency. At this point, the Yen is positioned within a significant supply zone, where we are closely monitoring for potential reversal opportunities.

According to the latest COT report, retailers are predominantly holding long positions, which adds an interesting dynamic to the current market environment. As we evaluate the situation, our focus is on the possibility of a reversal, especially as the US Dollar shows signs of regaining momentum. This scenario could lead to notable shifts in currency dynamics, and we are keen to see how these factors will unfold in the near term.

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