USD/JPY fell after Japanese elections and on USD weakness, despite PM Ishiba’s pledge to remain in power after the ruling coalition’s loss in the upper house. Yen rose due to tariff concerns and Fed Powell worries. USD under pressure from trade tariff and Fed independence concerns. Oil prices range-bound at $64-$70 amid EU sanctions on Russia and mixed US economic data. Oil technical analysis shows potential for further downside if support levels are broken, with a rise above $68.60 needed for a bullish outlook. Attention on oil inventory data and US GDP figures this week.
Read more at Investing.com: USD/JPY, Oil Forecast: Two Trades to Watch