USD/JPY extends losses on speculation that the Bank of Japan may be warming up to the idea of ending negative rates during its March monetary policy meeting.
Curious about what lies ahead for the Japanese yen? Find comprehensive answers in our quarterly trading forecast. Claim your free copy now!seemed unlikely and not imminent, at least until the BoJ finally pulled the trigger and relinquished its extremely accommodative position. With that moment drawing nearer, the Japanese currency could be on the brink of a robust comeback.
USD/JPY retreated further on Friday, sinking below support at 147.85/147.50 and hitting its lowest mark in more than a month. If this breakdown is sustained, the next key floor to watch emerges at 146.60, followed by 146.10, the 200-day simple moving average. Below this area, all eyes will be on 145.00.
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