See also
07.02.2025 03:07 PM
The Japanese yen continues to experience modest intraday losses against the U.S. dollar, following cautious comments from the International Monetary Fund (IMF). However, the decline remains limited, as expectations grow that the Bank of Japan (BoJ) will continue tightening its monetary policy.
Recent statements from senior BoJ officials indicate a firm commitment to interest rate hikes, which could narrow the rate differential between the BoJ and major central banks, including the Federal Reserve. This provides support for the yen, preventing a steeper decline.
Nevertheless, the muted performance of the U.S. dollar is preventing USD/JPY from capitalizing on its recent rebound from levels below 151.00, the lowest since December 10. Traders remain cautious, awaiting the release of the U.S. Nonfarm Payrolls (NFP) report, which is expected to influence market direction.
A break below 152.60, where the 100-day and 200-day simple moving averages (SMA) converge, has become a key bearish signal. Oscillators on the daily chart remain deep in negative territory, suggesting further downward potential. Any upward movement may be seen as a selling opportunity, with resistance expected near the psychological level of 152.00. If the price continues to rise, the next key resistance is 152.60, followed by the round level of 153.00.
On the other hand, the 151.00 now serves as immediate support. A break below 151.00 could lead to further declines toward 150.55–150.50 and then the critical psychological level of 150.00. If the price drops below 150.00, further downside is likely toward 149.60, before potentially testing 149.00 and the December low near 148.65.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Our new app for your convenient and fast verification
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
