USDJPY InsightHello, subscribers!
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Key Points
- Friedrich Merz, leader of the Christian Democratic Union (CDU), expressed confidence in the constitutional amendment vote to ease the debt limit. Lars Klingbeil, leader of the Social Democratic Party (SPD), also stated he is certain the amendment will pass.
- U.S. President Trump announced plans to hold talks with Russian President Putin, raising expectations for peace negotiations between Russia and Ukraine.
- The Bank of Japan's interest rate decision this week is expected to result in no change.
- The FOMC meeting is anticipated to see the Federal Reserve keeping interest rates unchanged, with projections emerging that the Fed may only cut rates once this year.
Major Economic Events This Week
+ March 19: Bank of Japan interest rate decision, Eurozone February Consumer Price Index, FOMC meeting results
+ March 20: Bank of England interest rate decision
USDJPY Chart Analysis
The pair is maintaining its upward momentum, supported by trendline support. In this rally, the 150 level appears to be a key resistance point. However, with the Bank of Japan’s rate decision and the FOMC meeting scheduled this week, it is crucial to monitor any potential trend changes. If the price breaks above the recent high, a move toward 154 could be possible. Conversely, if resistance holds at 150, a decline toward 145 is likely.
