USDJPY: The USD is stable in the context of the Fed cutting spec
Updated
The yen showed resilience, up 0.23% against the dollar at 150.26, although Japan's GDP figures showed a larger-than-expected recession and Germany overtook Japan as the world's leading economic power. third largest economy in the world. Commonwealth Bank of Australia currency strategist points out that the technical recession in Japan has minimal impact on the dollar/yen exchange rate, with upcoming spring wage negotiations seen as has more influence on the policy direction of the Bank of Japan and the performance of the yen. The market is still considering the high possibility of BOJ raising interest rates in April, despite negative GDP data.
Note
USDJPY BUY 150.20-150.30TP1: 150.60
TP2: 150.90
SL: 149.70
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