USD/JPY retreats from the yearly high, hovers above 151.00

USD/JPY strengthened as the BoJ scrapped the 1% ceiling for the 10-year government bond yield. BoJ Governor Ueda expressed fear about inflation not reaching long-term targets. Japan’s Chief Cabinet Secretary Matsuno engaged in some verbal intervention to bolster the yen. Following the adjustment to the yield curve control (YCC), BoJ Governor Kazuo Ueda adopted a notably dovish stance. He expressed apprehensions about inflation not definitively reaching the BoJ’s long-term targets.

70 at the time of writing. Additionally, the market anticipates the imminent policy decision from the US Federal Reserve (Fed), pointing toward the central bank maintaining its current monetary policy stance in the Wednesday meeting. Investors will closely watch the Federal Open Market Committee’s (FOMC) post-meeting communication, eager for insights that could help gauge the potential path of interest rates.

USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Oct 03 when USD/JPY traded near 149.10.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bullish contrarian trading bias. Read more ⮕

USD/JPY pinned into the high end near 151.80 after dobish BoJ leaves Yen to flounderThe USD/JPY is inches away from setting a new three-decade high as the pair trades into 151. Read more ⮕

USD/JPY recovers above 150.00 on BoJ Ueda’s dovish guidance, Fed policy eyedThe USD/JPY pair reclaims 150.00 as the Bank of Japan (BoJ) Governor Kazuo Ueda delivers dovish guidance on monetary policy. Read more ⮕

USD/JPY should continue to trend higher in the coming weeksUSD/JPY moved back above 150 after the Bank of Japan (BoJ) Monetary Policy Statement. Read more ⮕

USD/JPY finds support above the 149.00 mark ahead of BoJ rate decisionThe USD/JPY pair finds support above the 149.00 mark during early Asian trading hours on Tuesday. Read more ⮕

USD/JPY holds above the mid-149.00s ahead of BoJ, Fed rate decisionThe USD/JPY pair hovers around 149.65 after retracing from the monthly highs of 150.77 during the Asian session on Monday. Traders prefer to wait on t Read more ⮕