USD/JPY Consolidates Near Resistance, Awaiting Policy Signals
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USD/JPY is moving sideways on the 1-hour chart, oscillating within a slightly upward channel with key resistance at 154.35 and support at 153.45. The EMA 34 (153.87) and EMA 89 (153.21) continue to trend higher, providing dynamic support, but buying momentum is showing signs of weakening as the price approaches strong resistance.
The Japanese Yen remains under pressure as expectations for a BoJ rate hike in December diminish, while rising U.S. bond yields and positive risk sentiment continue to support the U.S. Dollar. However, market caution persists ahead of this week’s crucial FOMC and BoJ policy meetings, leaving investors awaiting clearer signals.
If USD/JPY fails to break through the 154.35 resistance, a pullback toward the 153.45 support is likely, with this level acting as a key marker. A breach of this support could extend the decline to 153.20. Conversely, a successful breakout above 154.35 may drive the pair toward 155.00. Traders should closely monitor price reactions at these key levels and remain alert to upcoming economic data from the U.S. and Japan to formulate appropriate strategies.
The Japanese Yen remains under pressure as expectations for a BoJ rate hike in December diminish, while rising U.S. bond yields and positive risk sentiment continue to support the U.S. Dollar. However, market caution persists ahead of this week’s crucial FOMC and BoJ policy meetings, leaving investors awaiting clearer signals.
If USD/JPY fails to break through the 154.35 resistance, a pullback toward the 153.45 support is likely, with this level acting as a key marker. A breach of this support could extend the decline to 153.20. Conversely, a successful breakout above 154.35 may drive the pair toward 155.00. Traders should closely monitor price reactions at these key levels and remain alert to upcoming economic data from the U.S. and Japan to formulate appropriate strategies.
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