USD/JPY, H4
The Japanese yen experiences initial surges in Asian trading hours following indications from Bank of Japan policymakers hinting at an eventual exit from ultra-easy policies. The central bank sets its sights on achieving the long-sought 2% inflation goal, contemplating a shift in its easing monetary policy later this year. However, market scepticism prevails as investors await concrete actions to match verbal commitments.
USD/JPY is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains toward resistance level since the RSI rebounded sharply from oversold territory.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60
The Japanese yen experiences initial surges in Asian trading hours following indications from Bank of Japan policymakers hinting at an eventual exit from ultra-easy policies. The central bank sets its sights on achieving the long-sought 2% inflation goal, contemplating a shift in its easing monetary policy later this year. However, market scepticism prevails as investors await concrete actions to match verbal commitments.
USD/JPY is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains toward resistance level since the RSI rebounded sharply from oversold territory.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60