USD/JPY, H4 6 March 2024
The USD/JPY pair continues to trade within a consolidation range, fluctuating between the 150.80 and 149.75 levels. Notably, Mitsubishi UFJ Financial Group, Japan's largest bank, is reportedly adjusting its positions in anticipation of a potential move by the Bank of Japan (BoJ) in March. Senior management at the bank has suggested that there is a 50% chance the BoJ may shift its monetary policy, a move that could have significant implications for Japanese government bonds and the strength of the Japanese Yen.
USD/JPY eases slightly but remains trading sideways within its consolidation range. Suggesting bearish momentum may be forming.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60
The USD/JPY pair continues to trade within a consolidation range, fluctuating between the 150.80 and 149.75 levels. Notably, Mitsubishi UFJ Financial Group, Japan's largest bank, is reportedly adjusting its positions in anticipation of a potential move by the Bank of Japan (BoJ) in March. Senior management at the bank has suggested that there is a 50% chance the BoJ may shift its monetary policy, a move that could have significant implications for Japanese government bonds and the strength of the Japanese Yen.
USD/JPY eases slightly but remains trading sideways within its consolidation range. Suggesting bearish momentum may be forming.
Resistance level: 150.80, 151.70
Support level: 149.40, 147.60