The Japanese Yen (JPY) edges lower for the successive second trading day on Monday.
The Japan ese Yen lost ground as US Dollar advanced on robust jobs data. The mixed Japan ese data may limit the downside of the JPY. Japan ’s 10-year government bond yield moves above 1.01% ahead of the BoJ policy meeting on Friday. The Japan ese Yen edges lower for the successive second trading day on Monday. The USD/JPY pair experienced support as the US Dollar regained its strength following the better-than-expected US employment data released on Friday.
Furthermore, the 14-day Relative Strength Index is positioned above the 50 level, suggesting a tendency toward upward movement. A key barrier is evident at the psychological level of 158.00. A breakthrough above this level could exert support to lead the USD/JPY pair to navigate the area around the upper boundary nearing at the level of 158.60. The further resistance appears at the level of 160.32, its highest level in over thirty years.
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