The USD/JPY registered modest gains during the North American session on Thursday of over 0.27%.
Bearish technical outlook persists; pair remains below Ichimoku Cloud and 200-DMA, hinting at further declines. RSI suggests seller dominance, despite a temporary buyer-led recovery. Resistance levels to watch: 145.39 , 146.00, 146.92 , 148.45 . Downside break below 144.00 targets 143.44 , with potential to test monthly low at 141.69. During the trading day, the pair retreated to a daily low of 144.22 but bounced off and ended the session near the 145.00 figure.
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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