USD/JPY continues its upward trend in the Asian trading session, nearing 149.50 for the second consecutive day. The Japanese Yen (JPY) is weakening against the US Dollar (USD) amidst concerns about potential rate hikes by the Bank of Japan (BoJ), despite its recent shift away from ultra-dovish monetary policies.
BoJ Deputy Governor Shinichi Uchida’s recent comments suggest a cautious approach to tightening monetary policy, even after ending negative interest rates. However, the Japanese Yen may be gaining support as a safe-haven asset amid tensions between Israel and Gaza.
Meanwhile, the US Dollar Index (DXY) maintains its upward momentum around 104.20, although gains may be limited by subdued US Treasury yields. The 2-year and 10-year US yields currently stand at 4.47% and 4.18%, respectively.
Traders are exercising caution ahead of the release of US inflation data, scheduled for Tuesday. The US Consumer Price Index (CPI) is expected to moderate, with a year-on-year increase of 2.9%, down from the previous 3.4%. The monthly rate is forecasted to remain steady at 0.2%.
In Japan, focus will shift to Gross Domestic Product (GDP) data set for release on Thursday. Preliminary figures suggest a potential increase of 0.3% in Japan’s GDP for the fourth quarter of the previous year, following a 0.7% decline.
USD/JPY: ADDITIONAL IMPORTANT LEVELS
OVERVIEW | |
---|---|
Today last price | 149.47 |
Today Daily Change | 0.14 |
Today Daily Change % | 0.09 |
Today daily open | 149.33 |
TRENDS | |
---|---|
Daily SMA20 | 148.05 |
Daily SMA50 | 145.47 |
Daily SMA100 | 147.52 |
Daily SMA200 | 145.05 |
LEVELS | |
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Previous Daily High | 149.48 |
Previous Daily Low | 148.93 |
Previous Weekly High | 149.58 |
Previous Weekly Low | 147.63 |
Previous Monthly High | 148.81 |
Previous Monthly Low | 140.81 |
Daily Fibonacci 38.2% | 149.27 |
Daily Fibonacci 61.8% | 149.14 |
Daily Pivot Point S1 | 149.01 |
Daily Pivot Point S2 | 148.7 |
Daily Pivot Point S3 | 148.46 |
Daily Pivot Point R1 | 149.57 |
Daily Pivot Point R2 | 149.8 |
Daily Pivot Point R3 | 150.12 |