Will USDJPY continue its decline amid hawkish tones from BoJ?
Macro:
- The yen reached a multi-week high due to more hawkish expectations from the BoJ. Japan's December real Wage rose in the second month, driven by winter bonuses.
- The Japan Service PMI was revised to 53. In addition, the BoJ signalled that it would be willing to raise interest rates when conditions met.
Technical:
- USDJPY dropped below both EMAs after breaking the ascending trendline, indicating strong bearish momentum.
- If USDJPY continues to decline, the price may retest the support at 152.00.
- Meanwhile, USDJPY may correct to retest its EMA21 area before resuming its downward movement.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- The yen reached a multi-week high due to more hawkish expectations from the BoJ. Japan's December real Wage rose in the second month, driven by winter bonuses.
- The Japan Service PMI was revised to 53. In addition, the BoJ signalled that it would be willing to raise interest rates when conditions met.
Technical:
- USDJPY dropped below both EMAs after breaking the ascending trendline, indicating strong bearish momentum.
- If USDJPY continues to decline, the price may retest the support at 152.00.
- Meanwhile, USDJPY may correct to retest its EMA21 area before resuming its downward movement.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.