Japanese Yen Stay in Focus for Traders with Attention on Chart Levels and Policy Decisions
Monday, 11 March 2024, 05:18
Japanese Yen Focus in Trading
Yen longs were finally rewarded last week as the currency gained by 2% against the dollar. The BOJ finally got the ball rolling and things are definitely heating up ahead of the policy decision next week.
Chart Insights
Going back to USD/JPY, the chart shows that sellers are running into a minor floor currently. The 38.2 Fib retracement level at 146.82 is in play on the daily chart.
Policy Decisions and Market Watch
The key focus for yen traders this week will be the spring wage negotiations and the upcoming BOJ policy decision scheduled for 19 March.
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.