0048 GMT - USD/JPY's outlook has turned bearish, based on the daily chart, says Fawad Razaqzada, market analyst at City Index and FOREX.com. USD/JPY ended last week on a negative note after forming an "inverted hammer candle" on Thursday, confirming the downtrend has resumed, the analyst says. Further downside follow-through in Monday's session suggests momentum is building for potentially even larger moves later in the week, Razaqzada says. "This will especially be the case if support in the 142.00-142.50 region gives way," the analyst says. "If that happens, the next stop could be at 140.00," Razaqzada adds. USD/JPY is steady at 142.72. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 02, 2025 20:48 ET (00:48 GMT)
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