USD/JPY trades with mild positive bias blow 150.00
Updated
Hello dear friends, It's great to see you again in this new week's conversation!
Today, the USD/JPY pair attracted some buying activity on the first day of the new week and seems to have halted its retreat from the 150.75-150.80 area, the highest level since October 2022, touched last week. However, Karina still holds a bullish view and the pair is currently trading around the 149.70-149.75 region, up slightly by less than 0.10% on the day as traders await important central bank meetings before placing new bets.
In this regard, the Bank of Japan (BoJ) is expected to announce its decision on Tuesday amid increasing speculation about potential changes in yield curve control (YCC) policies. However, the Bank of Japan is unlikely to escape from its negative interest rate policy. This marks a significant divergence from other major central banks, including the Federal Reserve, along with a positive risk tone, which is seen as weakening the safe-haven Japanese Yen (JPY) and turning out to be a key driver for the USD/JPY pair.
Today, the USD/JPY pair attracted some buying activity on the first day of the new week and seems to have halted its retreat from the 150.75-150.80 area, the highest level since October 2022, touched last week. However, Karina still holds a bullish view and the pair is currently trading around the 149.70-149.75 region, up slightly by less than 0.10% on the day as traders await important central bank meetings before placing new bets.
In this regard, the Bank of Japan (BoJ) is expected to announce its decision on Tuesday amid increasing speculation about potential changes in yield curve control (YCC) policies. However, the Bank of Japan is unlikely to escape from its negative interest rate policy. This marks a significant divergence from other major central banks, including the Federal Reserve, along with a positive risk tone, which is seen as weakening the safe-haven Japanese Yen (JPY) and turning out to be a key driver for the USD/JPY pair.
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