USD/JPY Sees Modest Gains Ahead of Fed and BoJ Policy...
USD/JPY Sees Modest Gains Ahead of Fed and BoJ Policy Announcements
USD/JPY is showing signs of picking up bids, recording its first daily gains of the week, as markets await the monetary policy announcements from both the Federal Reserve (Fed) and the Bank of Japan (BoJ) with mixed feelings. At the moment, the Yen pair is trading around 141.10.
Fundamentally, the recent upbeat data from the US and challenges to market sentiment have allowed the US Dollar to recover. Conversely, the Japanese Yen (JPY) seems to struggle in justifying the hawkish comments from the International Monetary Fund (IMF) as BoJ officials continue to defend easy-money policies. Additionally, the recent recovery in US Treasury bond yields is also supporting the Yen's price rebound.
Ahead of the Bank of Japan's policy announcements and updated economic projections scheduled for Friday, the Japanese Cabinet Office has published its monthly economic assessment. The assessment reveals that there has been a raise in business sentiment in July for the first time in seven months. The overall view on the economy remains intact, with the government believing that the economy is "recovering moderately," supported by consumer spending, capital expenditure, and exports remaining firm.
Moreover, firms' judgments on the current business condition are showing signs of improvement. The Cabinet Office maintains its view that capital spending is "picking up," and exports continue to remain solid in July. These assessments provide insights into the current economic landscape in Japan and set the tone for the upcoming BoJ policy announcements.
TurnAround : 141.40
Our preference
Short positions below 141.40 with targets at 140.50 & 140.00 in extension
USD/JPY is showing signs of picking up bids, recording its first daily gains of the week, as markets await the monetary policy announcements from both the Federal Reserve (Fed) and the Bank of Japan (BoJ) with mixed feelings. At the moment, the Yen pair is trading around 141.10.
Fundamentally, the recent upbeat data from the US and challenges to market sentiment have allowed the US Dollar to recover. Conversely, the Japanese Yen (JPY) seems to struggle in justifying the hawkish comments from the International Monetary Fund (IMF) as BoJ officials continue to defend easy-money policies. Additionally, the recent recovery in US Treasury bond yields is also supporting the Yen's price rebound.
Ahead of the Bank of Japan's policy announcements and updated economic projections scheduled for Friday, the Japanese Cabinet Office has published its monthly economic assessment. The assessment reveals that there has been a raise in business sentiment in July for the first time in seven months. The overall view on the economy remains intact, with the government believing that the economy is "recovering moderately," supported by consumer spending, capital expenditure, and exports remaining firm.
Moreover, firms' judgments on the current business condition are showing signs of improvement. The Cabinet Office maintains its view that capital spending is "picking up," and exports continue to remain solid in July. These assessments provide insights into the current economic landscape in Japan and set the tone for the upcoming BoJ policy announcements.
TurnAround : 141.40
Our preference
Short positions below 141.40 with targets at 140.50 & 140.00 in extension
Trading ditutup: target tercapai:
✅ TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🇺🇸 US ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🇺🇸 US ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
