USDJPY Analysis - Price is heavy as sellers step in at highs

The USDJPY is looking heavy around the 109.450 zone as sellers look to edge back into the action. We expect to see some further safe haven YEN buying to push price lower and offset strength into the USD. There is still a fight between the bulls and the bears as recent rallies stall and higher lows hold. The USD may find some more buyers on interest rates being kept on hold but happy to watch now for a sell shoulder setup.

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