The Japanese Yen (JPY)
Key news events today
No major news events.
What can we expect from JPY today?
The USDJPY climbed steadily to the upside reaching a high of 135.25 as the DXY strengthened yesterday. However, with the BoJ releasing comments about the need to review the current monetary policy and the possibility of introducing tightening measures, these have capped the potential upside for the USDJPY. The USDJPY currently trades at the 134.75 price level with price action signaling further downside potential, with the immediate key support level at the round number support level of 134.00.
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 Bullish
