The Japanese Yen (JPY) edges lower against the US Dollar (USD) on Tuesday as depreciation in global bond yields reduced safe-haven demand for the JPY.
The Japan ese Yen edges lower due to the interest rate differential between the US and Japan . BoJ Governor Kazuo Ueda stated that the central bank may increase rates if underlying inflation accelerates as expected. The US Dollar gains ground due to the upward correction in US Treasury yields. The Japan ese Yen edges lower against the US Dollar on Tuesday as depreciation in global bond yields reduced safe-haven demand for the JPY.
However, the 14-day Relative Strength Index remains slightly above 50, a decline may suggest a potential momentum shift toward a bearish bias. Regarding potential price movements, if the USD/JPY pair breaks above the psychological barrier of 157.00 and surpasses the upper boundary of the symmetrical triangle, it could find support to retest 160.32, its highest level in over thirty years.
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