USD/JPY recovers early lost ground, flirts with one-week high amid risk-on

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• USD/JPY attracts some dip-buying on Thursday and reverses a major part of its intraday losses.
• The prevalent risk-on environment undermines the safe-haven JPY and lends support to the pair.
• A modest USD weakness is holding back bullish traders from placing fresh bets around the major.

The USD/JPY pair rebounds over 50 pips from the daily low and steadily climbs back closer to the top end of its daily trading range during the first half of the European session. The pair is currently placed around the 132.75 region, nearly unchanged for the day and just below the one-week high touched on Wednesday.