The USD/JPY edged higher during Tuesday’s North American session, registering minuscule gains of 0.24% and trading below the 158.50 figure.
USD/JPY edges higher by 0.24%, trading just below 158.50 during North American session. Technical signals turn neutral-bearish with price below Tenkan and Kijun-Sen lines. Key levels to watch: support at 158.00 and resistance at 158.50, with further gains toward 160.00 possible. As Wednesday’s Asian session begins, the pair trades at 158.34, virtually unchanged.
Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen.
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