The Japanese Yen (JPY) attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan (BoJ) will raise interest rates again.
The Japanese Yen jumps to over a one-month top against the USD amid BoJ rate hike bets. Expectations for a further narrowing of the Japan-US rate differential also underpin the JPY. A positive risk tone might cap the safe-haven JPY amid worries about Trump’s trade tariffs. The Japanese Yen attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan will raise interest rates again.
The data provide some impetus to the US Dollar ahead of the closely-watched US Nonfarm Payrolls report on Friday. USD/JPY seems vulnerable to slide further; breakdown below the 154.00 mark in play From a technical perspective, the intraday breakdown and acceptance below the 154.00 mark could be seen as a fresh trigger for bearish traders. Moreover, oscillators on the daily chart have been gaining negative traction and are still away from being in the oversold territory.
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