The Japanese Yen (JPY) is bleeding lower on Tuesday in the wake of the Bank of Japan (BoJ) policy meeting.
Japanese Yen weakens substantially following the Bank of Japan meeting early on Tuesday. The Yen returns to last week’s lows after Governor Ueda played down inflationary effects. USD/JPY returns to the 150s on the news. The currency came under heavy pressure after Bank of Japan president Katsuo Ueda said inflation had mainly been caused by rising commodity prices, not secondary “demand-driven” factors.
” Japanese Yen technical analysis: Decline reaches key trendline USD/JPY executes an astounding volte-face and returns to its 12-month highs in the 150.70s, where it trades at the time of writing. The bias remains to the upside, with the next major target at the 152.00 highs achieved in October 2022. A re-break above last Thursday’s highs of 150.80 would provide fresh confirmation of a continued advance.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese Yen pulls back ahead of BoJ meetingThe Japanese Yen (JPY) steadily sinks on Monday ahead of the main event on the horizon, the Bank of Japan (BoJ) policy meeting on Tuesday.
Read more »
Forex Today: Japanese Yen weakens on BoJ, Euro awaits inflation dataHere is what you need to know on Tuesday, October 31: The Japanese Yen came under heavy selling pressure early Tuesday following the Bank of Japan's (BoJ) monetary policy announcements.
Read more »
Asia FX spooked by weak Chinese PMI, yen slides on dovish BOJAsia FX spooked by weak Chinese PMI, yen slides on dovish BOJ
Read more »
Dollar edges higher, yen slumps as BOJ maintains dovish stanceDollar edges higher, yen slumps as BOJ maintains dovish stance
Read more »
Yen rises on speculation of BOJ policy tweak; dollar ebbsYen rises on speculation of BOJ policy tweak; dollar ebbs
Read more »
Asian stocks waver, yen wobbles as BOJ takes centre stageAsian stocks waver, yen wobbles as BOJ takes centre stage
Read more »