Amid growing uncertainty surrounding U.S. equities and the US dollar, investors could be returning to a traditional defensive strategy: going long on the Japanese yen.
While some analysts believe the recent yen rally is not yet overstretched, the International Monetary Fund (IMF) has noted that Japan’s central bank is likely to push back the timing of further interest rate hikes, a factor that could limit the yen's potential to strengthen further. As such, we are looking at the support level of 140.00 and the bearish-yen sentiment seen today, and the potential resistance at 144.80.
Up next: a scheduled meeting between Japan’s Finance Minister Kato and U.S. Treasury Secretary Bessent later this week.
While some analysts believe the recent yen rally is not yet overstretched, the International Monetary Fund (IMF) has noted that Japan’s central bank is likely to push back the timing of further interest rate hikes, a factor that could limit the yen's potential to strengthen further. As such, we are looking at the support level of 140.00 and the bearish-yen sentiment seen today, and the potential resistance at 144.80.
Up next: a scheduled meeting between Japan’s Finance Minister Kato and U.S. Treasury Secretary Bessent later this week.
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Economic Calendar:
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Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.