The USD/JPY was a bit softer, following the yields of the low while the MPC of the BOJ (last Friday) hinted at continuous normalization of politics. The pair was last in 154.05, the FX analysts of OCBC Frances Cheung and Christopher Wong point out.
USD/JPy down now
“Japanese economic data support the normalization of the BOJ’s policy. The salary growth pressure remains intact, together with an expanding inflation. The underlying IPC of Tokyo, the IPP and the wages increased, while the report of the report of the Labor market also pointed to a salary pressure upwards with the unemployment rate decreasing, while the unions are asking for another 5-6% salary increase in Shunto’s salary negotiations by 2025. “
“We are still waiting for the USD/JPY to down, based on the Fed cuts cycle while the BOJ has a margin to continue chasing the normalization of politics. The bearish impulse remains intact while the RSI fell. Consolidation with risks inclined down.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
