comienzo
comercio

Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Forex Fundamental Analysis
>
USD/JPY retreats from 38-year peak but downside potential seems limited

USD/JPY retreats from 38-year peak but downside potential seems limited | 27 Junio 2024

27 Junio 2024, USD/JPY

Event to watch out for today:

15:30 GMT+3. USD - GDP volume change

USDJPY:

The Dollar-Yen pair is declining during the Asian session on Thursday and losing some of the previous day's strong gains to reach the 160.85-160.90 area, which is the highest level since 1986. Spot prices are currently trading around the mid 160.00 area, although any meaningful corrective decline seems unlikely amid the large interest rate differential between the US and Japan.

The Bank of Japan (BoJ) has been reluctant to provide a detailed plan to reduce bond purchases. In contrast, recent hawkish comments from Federal Reserve (Fed) officials suggest that the U.S. central bank is in no hurry to start a rate-cutting cycle amid a still-resilient economy. This, and the underlying bullish tone in global equity markets, could continue to undermine the safe-haven Japanese Yen (JPY) and act as a tailwind for the USD/JPY pair, justifying some caution for aggressive bearish traders.

Investors, meanwhile, remain on guard amid speculation that Japanese authorities may intervene in the markets to support the national currency. Japan's Deputy Finance Minister Masato Kanda confirmed that the government is ready to take appropriate measures if excessive currency fluctuations have a negative impact on the national economy. In addition, good data on retail sales in Japan, which grew by 3% year-on-year in May, provided some support to the Japanese yen and contributed to profit taking on the USD/JPY pair.

Trading recommendation: Trade mainly with Buy orders from the current price level.

Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion!

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.

Nuestros mejores premios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.