09.12 - USD/JPY struggled to capitalize on the overnight positive move
- by George Solotarov
- 550
The USD/JPY pair lacked any firm directional bias and remained confined in a range, above the 104.00 mark through the Asian session.
A combination of diverging forces failed to assist the pair to capitalize on the overnight positive move of around 25 pips and led to a subdued/range-bound price action on Wednesday. Positive news on COVID-19 vaccines boosted investors' confidence and undermined demand for the safe-haven Japanese yen. This, in turn, was seen as one of the key factors lending some support to the USD/JPY pair.
