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USD/JPY Struggles to Rebound Amid Fed Rate Cut Expectations
USD/JPY is currently trading at 144.577, continuing its downward trend as the pair struggles to regain momentum. After failing to break above the descending trendline, the pair remains pressured, hovering around the 144.50 level. This decline is largely driven by growing expectations that the Federal Reserve will begin cutting interest rates later this year, which has weakened the US dollar.
The pair's inability to hold above the 145.00 level underscores the bearish sentiment, as market participants increasingly factor in the likelihood of a more dovish Fed stance in the coming months. This, combined with the yen's safe-haven appeal amid global economic uncertainties, has kept the USD/JPY under pressure
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