USD/JPY: Trades with a downside bias – DBS
Source Fxstreet
USD/JPY has a downside bias if it consolidates in a 145-150 range, DBS’ FX analyst Philip Wee notes.
Ishiba has affirms the Bank of Japan’s independence
“Japan Prime Minister Shigeru Ishiba has affirmed the Bank of Japan’s independence, looking to correct his earlier remark in early October about opposing future interest rate hikes.”
“Heading into the snap election on October 27, the Ishiba government probably realized the critical role played by the BOJ’s hikes in addressing the JPY’s weakness, which is responsible for the higher cost of living besetting voters.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The USD/JPY pair attracts some buyers during the Asian session on Monday and climbs back above the 153.00 mark following the disappointing release of Japan's Q4 GDP report.
Gold (XAU/USD) attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels.
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