The USD/JPY pair struggles to capitalize on a modest Asian session uptick or find acceptance above the 149.00 mark and retreats a few pips from its highest level since August 16 touched this Monday.
USD/JPY retreats after touching its highest level since August 16 amid intervention fears. Reduced bets for more BoJ rate hikes and an oversized Fed rate cut should lend support. Any meaningful corrective slide could be seen as a buying opportunity and remain limited. Spot prices slide below mid-148.00s, or a fresh daily low in the last hour and for now, seem to have snapped a three-day winning streak, though the fundamental backdrop warrants caution for bearish traders.
Apart from this, geopolitical developments should provide short-term impetus to the USD/JPY pair. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. 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.
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