JAPANESE YEN TOUCHES OVER ONE-WEEK LOW AGAINST USD; LACKS FOLLOW-THROUGH SELLING

JAPANESE YEN TOUCHES OVER ONE-WEEK LOW AGAINST USD; LACKS FOLLOW-THROUGH SELLING
JAPANESE YEN TOUCHES OVER ONE-WEEK LOW AGAINST USD; LACKS FOLLOW-THROUGH SELLING

JAPANESE YEN TOUCHES OVER ONE-WEEK LOW AGAINST USD; LACKS FOLLOW-THROUGH SELLING

Bank of Japan (BoJ) Rate Hike Uncertainty:
Doubts about the BoJ's ability to raise interest rates further weigh on the Japanese Yen (JPY).

Mixed signals from BoJ officials about future rate hikes contribute to market uncertainty.

US Federal Reserve's Less Dovish Outlook:
Expectations of a less dovish Federal Reserve support the US Dollar (USD), contributing to the JPY's decline.

US Treasury Yield Bounce:
A recovery in US Treasury bond yields helps strengthen the USD, which in turn pushes the USD/JPY pair higher.

Risk Sentiment Limiting JPY Losses:
Global geopolitical tensions, including concerns over trade wars and instability in the Middle East, provide support to the safe-haven JPY.

Focus on US Consumer Price Index (CPI) Data:
The release of US CPI data later in the week could impact the USD/JPY pair, influencing the Fed's rate path.

Technical Resistance for USD/JPY:
The USD/JPY pair may face strong resistance near the 151.75-152.00 area, with further gains possible if it surpasses this level.

Potential Support Levels for USD/JPY:
Key support levels for USD/JPY are seen near 151.00, with further downside risk if it falls below the 150.00 psychological mark.