156.004
Today
-0.17%
5 Days
+1.61%
1 Month
-2.07%
6 Months
-1.90%
Year to Date
-0.45%
1 Year
+6.50%
Opening Price
156.218Previous Closing Price
156.255
The upside prevails as long as 155.05 is support, with 156.62 and 156.97 as targets
below 155.05, expect 154.46 and 154.11.
The upside prevails as long as 155.05 is support, with 156.62 and 156.97 as targets
USD/JPY trades cautiously on Thursday as attention shifts to the Bank of Japan’s (BoJ) monetary policy decision on Friday after the Federal Reserve (Fed) delivered a widely expected 25-basis-point rate hike on Wednesday.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY surged above 156.30 to a high of 156.41, with momentum still modest but supportive of further gains. Intraday, the pair could test 156.50 while holding above support at 155.40.
The Bank of Japan (BoJ) stands on the verge of delivering a 25 basis point rate hike to 1.25%, with financial markets pricing in a near 100% probability of such an action.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight USD/JPY trading near 155.65 with the Japanese Yen (JPY) outperforming G10 peers as markets price in a Bank of Japan (BoJ) hike alongside elevated domestic risk around CPI and policy decisions.
MUFG’s Halpenny expects the BoJ to deliver a 25bps hike to 1.25%, with communications outlining further rate increases and supporting efforts to strengthen the Japanese Yen. However, he warns Governor Ueda may sound cautious versus aggressive market pricing for 90bps of hikes.
• USD/JPY pullback was driven by position-adjustment ahead of the Bank of Japan decision. • Narrowing U.S.-Japan interest rate spreads and capital flows favored the Japanese yen. • Technical indicators show neutral conditions with the RSI at 42.196.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
