The Japanese Yen (JPY)
Key news events today
No major news events.
What can we expect from JPY today?
The USDJPY continued to consolidate along the 136.30 price level despite the weakness of the DXY overnight. As the USDJPY resisted moves to the downside, look for a potential breakout to the upside, with the 136.50 price level a key trigger level. If the DXY strengthens and the USDJPY breaks out to the upside, the USDJPY could trade significantly higher toward the next key resistance level of 138.50.
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
