Dear readers, USD/JPY is experiencing downward pressure and has dropped to the 147.50 level during the European trading session on Tuesday. Following the Bank of Japan's decision to maintain their policy settings as expected, Governor Ueda stated that they will assess whether to keep negative interest rates when the current price target is achieved.
As a result, the US Dollar is showing signs of depreciation, so I anticipate that USD/JPY will decline towards the support level at 146.00, where the EMA line is converging, before any new catalysts emerge.
As a result, the US Dollar is showing signs of depreciation, so I anticipate that USD/JPY will decline towards the support level at 146.00, where the EMA line is converging, before any new catalysts emerge.
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