Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Fundamental Analysis
>
The yen's winning streak continues

The yen's winning streak continues | 11 March 2024

11 March 2024, USD/JPY

The yen's winning streak continues

USDJPY:

The Japanese yen rose to its highest level since early February against its U.S. counterpart on Friday amid bets on an imminent policy change by the Bank of Japan (BoJ). Moreover, investors seem convinced that another significant increase in Japanese wages will fuel demand-driven inflationary pressures and allow the BoJ to end negative interest rates as soon as its March 18-19 meeting. This, along with an upward revision to Japan's fourth quarter GDP data, lends support to the Japanese Yen and keeps the USD/JPY pair low during the Asian session on Monday.

Meanwhile, the US jobs report for February confirmed expectations that the Federal Reserve (Fed) will start cutting interest rates in June and continues to put pressure on the US Dollar. This was another factor contributing to the USD/JPY pair being on the supply side for the sixth consecutive day and supporting the prospects for further rate cuts. Market attention will now turn to the US consumer inflation data due for release on Tuesday. Nevertheless, the fundamental backdrop indicates that the path of least resistance for spot prices lies to the downside.

Trade recommendation: Trading with Sell orders from the current price level

We offer you to work with the most popular and proven trading terminals - MetaTrader 4, MetaTrader 5, as well as the MetaTrader 5 WEB terminal.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

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.