USDJPY Analysis
USDJPY is falling from a lower high area of the descending channel after breaking and retesting the minor ascending channel line
USDJPY Update
USDJPY is consolidating at the lower high area of the descending channel which leads to -745 points. However, USDJPY still has a chance to fall from the higher area.
Reason: Due to the release of more economic news mentioned below, the market is not making technical movements at this time.
Why JPY is Weaker
The Japanese yen weakened because the Bank of Japan (BOJ) decided to keep interest rates steady, signaling that they are concerned about rising food-driven inflation and the uncertainty caused by U.S. tariffs. BOJ Governor Kazuo Ueda highlighted that the impact of higher U.S. tariffs on the global economy remains unclear, and this caution suggests that interest rates in Japan could rise sooner than expected, which put pressure on the yen.
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BOJ Rate Decision: The Bank of Japan kept interest rates steady at 0.5%, citing uncertainty due to U.S. trade policies.
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U.S. Tariffs Impact: Japan’s manufacturers are worried about U.S. tariffs and China’s economy, dampening confidence.
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Trade Surplus: Japan’s exports grew 11.4% in February, resulting in a trade surplus, but concerns about U.S. tariffs remain.
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