The Japanese Yen fails to gain traction late in the North American session versus the Greenback as the USD/JPY rises from last Friday's daily low of 146.62 and trades at 147.28, up by 0.47%.
USD/JPY briefly clears 148.00 before reversing, with RSI suggesting seller dominance. A drop below 146.27 could trigger further losses, targeting 145.44 and 144.28. If USD/JPY reclaims 147.79, resistance levels are at 148.00 and potentially 149.77, with the 200-DMA at 151.46 as a longer-term target. The Japanese Yen fails to gain traction late in the North American session versus the Greenback as the USD/JPY rises from last Friday's daily low of 146.62 and trades at 147.28, up by 0.47%.
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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