The USD/JPY trades had minimal losses of 0.02%, yet they recovered some ground late in the North American session.
USD/JPY minimal losses of 0.02% but holds below key 158.00 level. Momentum shifts to sellers, with RSI indicating a neutral to bearish bias. Key support levels at 157.14 and 156.91 could lead to further declines below 155.60. The major exchanges hands at 157.94, below the 158.00 figure, following last week’s intervention that dragged the pair from around 161.90 toward 157.50.
Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen.
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