USDJPY H4 11 March 2024
USD/JPY, H4 11 March 2024
The USD/JPY pair extends its aggressive decline, weighed down by a narrowing interest rate differential between the US and Japan. Growing anticipation of the Bank of Japan exiting ultra-dovish policies fuels market demand for the Japanese yen. Policymakers' emphasis on a positive wage cycle and the potential for inflation to surpass the 2% target further intensify expectations for a tightening monetary cycle.
USD/JPY is trading lower while currently testing the support level. Suggesting the pair might enter oversold territory.
Resistance level: 147.60, 149.40📉
Support level: 146.35, 145.05📈
The USD/JPY pair extends its aggressive decline, weighed down by a narrowing interest rate differential between the US and Japan. Growing anticipation of the Bank of Japan exiting ultra-dovish policies fuels market demand for the Japanese yen. Policymakers' emphasis on a positive wage cycle and the potential for inflation to surpass the 2% target further intensify expectations for a tightening monetary cycle.
USD/JPY is trading lower while currently testing the support level. Suggesting the pair might enter oversold territory.
Resistance level: 147.60, 149.40📉
Support level: 146.35, 145.05📈
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