The Japanese Yen (JPY) edges lower against its American counterpart during the Asian session on Wednesday, though it remains close to over a one-month peak touched the previous day.
The Japanese Yen moved away from a one-month top against the USD touched on Tuesday. The divergent BoJ- Fed policy expectations should help limit any meaningful JPY downfall. Traders might also opt to move to the sidelines ahead of the BoJ meeting starting Thursday. The Japanese Yen attracts some sellers during the Asian session on Wednesday and moves away from over a one-month peak against its American counterpart touched the previous day.
25 hurdle is cleared decisively From a technical perspective, the USD/JPY pair has been showing resilience below the 155.00 psychological mark and the lower boundary of a multi-month-old ascending channel. The subsequent move up, along with the fact that oscillators on the daily chart are yet to gain any meaningful negative traction, warrants some caution for bearish traders.
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