USD/JPY rises back above 128.50 on broad US Dollar strength, ahead of the BoJ’s meeting
The USD/JPY traded below 128.00 for the first time since June 2022. USD/JPY traders are bracing for the Bank of Japan’s monetary policy meeting on Wednesday. USD/JPY Price Analysis: Downward biased; it could test 125.00 in the near term. The USD/JPY recovered after hitting an eight-month low around 127.21, reclaiming 128.00 and advancing sharply toward […]
USD/JPY tumbles below 133.00 on broad US Dollar weakness, post-NFP data
December’s US Nonfarm Payrolls data weakened the US Dollar, even though the labor market remains tight. Average Hourly Earnings easing sparked speculations for a dovish move of the Federal Reserve in the February meeting. USD/JPY Price Analysis: Likely to remain downward biased below 133.00. The USD/JPY struggles at the 200-day Exponential Moving Average (EMA) around […]