The Japanese Yen (JPY)
Key news events today
No major news events.
What can we expect from JPY today?
The USDJPY consolidated between the 133.60 and 134.50 price levels overnight, failing to break out strongly to the upside, despite the strength of the DXY. As the USDJPY retraces lower, following the price action of the DXY, look for the price to test and reject the 133.50 price level to signal further upside potential. I the USDJPY
breaks through the 134.50 resistance level, price could climb higher to the next key resistance level of 137.50.
Central Bank Notes:
Cash rate stands at -0.1%
Expanded range for 10 year JGB yield fluctuations to 0.5%
Next meeting is on 8 March 2023
Next 24 Hours Bias
Weak Bearish
