USD/JPY Remains Firm above 149.00 Ahead of BOJ Meeting

Monday, 18 March 2024, 05:22

The focus in the markets is on central banks this week, leading to minimal activity in trading so far. Dollar pairs are holding steady within narrow ranges, waiting for significant moves in the upcoming days. Key levels such as 1.0900 for EUR/USD and support at 149.00 for USD/JPY are being closely monitored. Equities show a positive sentiment, with S&P 500 futures and Asian stocks displaying cautious optimism. Gold prices are correcting after recent gains, while Bitcoin stabilizes around $68,000 post a weekend of volatility.
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USD/JPY Remains Firm above 149.00 Ahead of BOJ Meeting

Market Update: Focus on Central Banks

There isn't much appetite to start the week so far and understandably so. All the attention is on central banks this week and we'll only see more notable moves when the time comes. For now, dollar pairs are lightly changed as narrow ranges prevail.

Key Levels to Watch

  • USD/JPY remains underpinned above 149.00 ahead of the BOJ meeting
  • EUR/USD is trading below the 1.0900 mark within an 11-pip range

Equities are cautiously optimistic with S&P 500 futures up 0.25%. Asian stocks also show a positive sentiment, especially the Nikkei rallying by over 2%. In the commodities market, gold retreats from recent highs.

Bitcoin consolidates above $68,000 post a weekend's volatile swings.


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.


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