USDJPY Breaks November High After BOJ Neutral Meeting
USDJPY made a strong bullish move yesterday, climbing 1.5 cents higher on the hawkish FED rate cut, which was followed by the BOJ meeting today.
The USD/JPY experienced a sharp decline during the final week of November, dropping 7 cents and slipping below the critical 150 level. This pullback came after a strong two-month rally where the pair gained nearly 17 cents. However, the downward movement found support at key moving averages, halting further losses.
USD/JPY Chart Daily – Perfect Bullish Reversing Pattern
Following a period of consolidation, the pair regained momentum, with buyers stepping in. The price began to recover and surged toward the 155 level, bolstered by hawkish signals from the FOMC. This recovery highlights the continued strength of the USD/JPY in response to evolving monetary policy dynamics.
Bank of Japan Policy Meeting for December 19
- January decision will be ‘holistic’ based on available data
- Hard to say if incoming data will be sufficient to support January hike
- Japan economy is recovering moderately, although some weakness seen
- Japan economy still faces many uncertainties
- Prices remain high
- Must pay attention to financial, FX markets and their impact on economy, prices
- FX impact has become larger than in the past as firms are more eager to raise wages, prices
- Will keep adjusting degree of policy easing depending on economic, price outlook
- Need more data on wages outlook and more information on wage trends
- Uncertainties surrounding US economic policies remain large
- Will guide policy from standpoint of sustainably and stably achieving price target
USD/JPY Live Chart
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals