Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

FxWirePro: USD/JPY steadies around 159.70,retains bid tone

• USD/JPY steadied     on Tuesday    as a stalemate in ​the Middle East conflict stoked inflation worries and reinforced speculation about ‌a near-term Bank of Japan interest-rate increase.

•Bank of Japan meets next month, where the central bank is set to raise interest rates and is considering hiking more aggressively after thatsaw the highest level of demand since June 2025 as ​the higher yield on offer attracted buyers..

•Comments from BOJ officials have turned increasingly hawkish in ​recent days, and Reuters ​and other media ⁠reported that the policy board may pursue more aggressive tightening than it has to this point.

• Immediate resistance is located at 160.20 (SMA 20), any close above will push the pair towards 160.62 (50%fib).

•  Support is seen at 159.12(61.8%fib) and break below could take the pair towards 158.53(Aug 14th low).

Recommendation: Good to buy  around 159.60, with stop loss of 158.50 and target price of 160.30

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.