USD/JPY Nudges Lower Amid Japanese Authorities Meeting
Wednesday, 27 March 2024, 09:27
USD/JPY Pair: A Decline Amid Japanese Authorities Meeting
The nerves are starting to show as USD/JPY bulls are taking some off the top now. The pair is closing in on some minor short-term support just above the 151.00 mark for now. The drop also sees the pair slip under its 100-hour moving average (red line) of 151.43. That now sees the near-term bias shift to being more neutral. It all hinges on Kanda's remarks coming up next.
Key Points:
- Decline in USD/JPY Pair: Signals emerging caution among bulls.
- Support Levels: Testing minor short-term support near 151.00 mark.
- Impact on Bias: Near-term bias turning neutral pending Kanda's remarks.
- Future Market Direction: All eyes on upcoming comments from Kanda for clarity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.