The Japanese yen traded around 148.6 per dollar on Monday, near a five-month high, as expectations for BOJ rate hikes remained strong. However, the central bank is expected to keep its policy unchanged in this week’s meeting.
Major Japanese firms approved wage hikes for the third year, boosting consumer spending and inflation, and potentially allowing future rate increases. The yen also gained from dollar weakness as US economic concerns and trade policies pushed investors toward safe-haven currencies like the yen and Swiss franc.
Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.
Major Japanese firms approved wage hikes for the third year, boosting consumer spending and inflation, and potentially allowing future rate increases. The yen also gained from dollar weakness as US economic concerns and trade policies pushed investors toward safe-haven currencies like the yen and Swiss franc.
Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.
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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.