USD/JPY Hovers Around Cycle High on Low Volatility
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USD/JPY is currently hovering around its cycle high due to low volatility in the market.
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The pair has been trading in a tight range for the past few weeks.
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There have been no major news or events to drive the pair in either direction.
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Investors are waiting for the Federal Reserve's policy meeting later this month for any clues on the future direction of the pair.
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The Bank of Japan's monetary policy decision is also expected to impact the pair's movement.
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The ongoing COVID-19 pandemic and its impact on the global economy is another factor that could affect the pair's movement.
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Overall, the USD/JPY pair is expected to remain range-bound until there is a significant shift in market sentiment or a major news event.
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