USD/JPY remains steady at approximately 156.40 during the early European session on Thursday. Market participants are cautious regarding the possibility of Japanese authorities re-entering the market to address the ongoing weakness. The eagerly awaited US April NFP data is set to take center stage this Friday. The USD/JPY pair is exhibiting a stable performance around … Read more
A sequence of verbal warnings from officials, an appreciating USD/JPY, and a growing bearish sentiment towards the yen in futures markets created the backdrop—while low holiday liquidity offered the perfect environment for a significant reversal. The USD/JPY has declined approximately 200 pips (-1.3%) following a three-day rally that halted just below 158. I highlighted that … Read more
USD/JPY is at ¥159.422, down 0.285% on the session, highlighting its political significance ahead of next week’s central bank decisions. The pair has spent most of the past six weeks consolidating just below the 160.00 psychological barrier, with the 52-week high of 160.48 serving as technical resistance and an unofficial Japanese Ministry of Finance line … Read more
The USD/JPY cross is currently positioned in a delicate balance following a week characterized by significant volatility influenced by central bank communications, political developments, and discussions of intervention. The price has been fluctuating between support levels in the range of 156.0–157.0 and encountering resistance in the zone of 159.0–161.9. A surge to approximately 159.2 following … Read more