USDJPY: Entering the abyss
Updated
Hello dear friends!
Today, USDJPY continues its sluggish trading days, hovering around the 143.3 level after a recent drop of over 4% on Thursday.
According to the Bank of Japan, they are expected to move away from extremely loose monetary policies in the coming months. This, along with market risk aversion, is compensating for the safe haven status of the Japanese Yen and is a significant factor in the recovery of the USDJPY currency pair.
Currently, the support level at 144.7 has been completely broken, and it would not be surprising if this currency pair continues to decline further given the current market conditions.
Today, USDJPY continues its sluggish trading days, hovering around the 143.3 level after a recent drop of over 4% on Thursday.
According to the Bank of Japan, they are expected to move away from extremely loose monetary policies in the coming months. This, along with market risk aversion, is compensating for the safe haven status of the Japanese Yen and is a significant factor in the recovery of the USDJPY currency pair.
Currently, the support level at 144.7 has been completely broken, and it would not be surprising if this currency pair continues to decline further given the current market conditions.
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