Technical Analysis:
USD/JPY looks promising for long positions on the daily timeframe as it is trading near an important support area. Dips in the pair present buying opportunities for a potential upside move toward the 147 level. It's prudent to wait for confirmation on lower timeframes before entering a position. The pair's price action is attempting to shift its structure on the daily chart, forming higher highs and higher lows, which indicates a bullish bias on USD. This makes USD/JPY an attractive option for long positions.
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