157.222
Today
+0.23%
5 Days
+2.40%
1 Month
-1.13%
6 Months
-1.24%
Year to Date
+0.33%
1 Year
+6.31%
Opening Price
156.796Previous Closing Price
156.863
Even if a technical recovery cannot be ruled out, a drop towards 156.38 remains likely as long as 157.59 is resistance
above 157.59, look for 158.01 and 158.25.
Even if a technical recovery cannot be ruled out, a drop towards 156.38 remains likely as long as 157.59 is resistance
MUFG’s Lee Hardman notes that the Japanese Yen initially weakened sharply after the latest BoJ policy update, with USD/JPY briefly above 158.00 before retreating towards 157.00.
MUFG’s Michael Wan highlights that USD/JPY remains in focus after the Bank of Japan raised rates by 25bps to 1.25%, with markets interpreting the meeting as relatively dovish.
The Japanese Yen (JPY) opens the week in the same bearish trend observed in the previous one, as it keeps depreciating against the US Dollar (USD) with trading volumes lower, as the Japanese market remains closed for bank holidays.
Commerzbank’s Thu Lan Nguyen argues that the Bank of Japan (BoJ) faces renewed pressure as the Japanese Yen (JPY) weakens and markets question its commitment to tighter policy.
The Japanese Yen (JPY) underperforms its major currency peers at the start of the week, with the USD/JPY pair trading 0.1% higher to near 157.00 in the early European trade. The Japanese currency has come under pressure after the Bank of Japan’s (BoJ) monetary policy announcement on Friday.
The USD/JPY pair attracts some sellers following a modest Asian session uptick to the 157.10 area and moves away from a two-week high, touched on Friday in reaction to the Bank of Japan's (BoJ) dovish rate hike.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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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.