USDJPY H4 4 March 2024
USD/JPY, H4
USD/JPY experiences uncertainty due to mixed monetary policy statements from Bank of Japan
members. While Hajime Takata signals a potential exit from ultra-loose policy with the inflation
target in sight, Governor Kazuo Ueda provides a contradictory view, emphasising the need for
confirmation in a positive wage-inflation cycle. This mixed sentiment continues to fuel uncertainty for the USD/JPY pair.
USD/JPY is trading lower following the prior retracement from the resistance level. Suggesting the pair might extend its losses since the RSI stays below the midline.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60
USD/JPY experiences uncertainty due to mixed monetary policy statements from Bank of Japan
members. While Hajime Takata signals a potential exit from ultra-loose policy with the inflation
target in sight, Governor Kazuo Ueda provides a contradictory view, emphasising the need for
confirmation in a positive wage-inflation cycle. This mixed sentiment continues to fuel uncertainty for the USD/JPY pair.
USD/JPY is trading lower following the prior retracement from the resistance level. Suggesting the pair might extend its losses since the RSI stays below the midline.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60
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