USD/JPY, H4 11 March 2024
The USD/JPY pair extends its aggressive decline, weighed down by a narrowing interest rate differential between the US and Japan. Growing anticipation of the Bank of Japan exiting ultra-dovish policies fuels market demand for the Japanese yen. Policymakers' emphasis on a positive wage cycle and the potential for inflation to surpass the 2% target further intensify expectations for a tightening monetary cycle.
USD/JPY is trading lower while currently testing the support level. Suggesting the pair might enter oversold territory.
Resistance level: 147.60, 149.40📉
Support level: 146.35, 145.05📈
The USD/JPY pair extends its aggressive decline, weighed down by a narrowing interest rate differential between the US and Japan. Growing anticipation of the Bank of Japan exiting ultra-dovish policies fuels market demand for the Japanese yen. Policymakers' emphasis on a positive wage cycle and the potential for inflation to surpass the 2% target further intensify expectations for a tightening monetary cycle.
USD/JPY is trading lower while currently testing the support level. Suggesting the pair might enter oversold territory.
Resistance level: 147.60, 149.40📉
Support level: 146.35, 145.05📈
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.