US EditionYen Gains Strength Ahead of Crucial Bank of Japan Meeting - ActionForex
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2 Articles
Sanae Takaichi assumed the position of prime minister of Japan with the promise to fight galloping inflation, although his fiscal ambitions seem rather to accelerate price increases if they succeed. Concern that the new Japanese prime minister could pressure the governor of the Bank of Japan, Kazuo Ueda, to stop his drive to normalize rates after years of ultra-expansive politics was already weighing on the yen before she took office. In the imp…
Yen Gains Strength Ahead of Crucial Bank of Japan Meeting - ActionForex
On the H4 chart, USD/JPY has completed the first leg of a decline to 154.34, followed by a corrective rebound to 156.93. We now anticipate the development of a new wave of decline targeting 154.73. Following this, the pair is likely to form a consolidation range around this level. A subsequent downward breakout from this range would signal a continuation of the broader downtrend, opening the path towards 152.58. This bearish view is supported by…
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