The Japanese Yen (JPY) halted its three-day losing streak, possibly influenced by comments from Bank of Japan (BoJ) Governor Kazuo Ueda on Monday.
The Japan ese Yen gained ground amid improved risk appetite on Monday. BoJ Governor Kazuo Ueda said there is a need to re-anchor inflation expectations at the 2% target. The US Dollar lost ground due to the lower 10-year US Treasury yield after softer UoM 5-year Inflation Expectation. The Japan ese Yen halted its three-day losing streak, possibly influenced by comments from Bank of Japan Governor Kazuo Ueda on Monday.
However, the 14-day Relative Strength Index maintains a slightly bullish bias, staying above 50. A drop below this threshold would suggest a shift in momentum. The USD/JPY pair might retest the upper boundary of the rising wedge around 157.30. Should it exceed this level, the pair could aim for 160.32, marking its highest point in more than thirty years. In terms of support, the nine-day Exponential Moving Average at 156.
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