USDJPY continues its streak of rising above record highs

26 Eyl 2023

Hello dear friends, are you wondering about the market today?

Today, USDJPY continues to maintain its strong upward momentum, receiving consistent support from market developments. On the 4-hour chart, UJ is currently at 148.88, accompanied by technical indicators such as the 34 and 89 EMA lines, signaling a continuing uptrend. Any potential price declines may only be short-term, as UJ is still within a strong upward trendline.

And what do you think about the market today?

26 Eyl 2023

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good luck everyone <3

26 Eyl 2023

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BOJ Governor Kazuo Ueda conducted the press conference of the post-September policy meeting on Friday

26 Eyl 2023

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Japan’s National Consumer Price Index (YoY) report for August printed a reading of 3.2% compared to the previous rate of 3.3%. While National CPI ex-Fresh Food (YoY) remained consistent at 3.1% against the expected 3.0%.

26 Eyl 2023

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BoJ Ueda supports for extending the expansionary monetary policy as 2% inflation is not in sight. Kazuo Ueda cited that a moderate rise in inflation backed by wage growth would be a real victory for the central bank.

27 Eyl 2023

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USDJPY is rising

27 Eyl 2023

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27 Eyl 2023

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The authorities in China have also upped their rhetoric opposing CNY weakness as well. Actions to curtail upside moves in USD/CNY would certainly help Tokyo in its battle to limit JPY weakness.