USDJPY: SELL 150.50, SL 151.00, TP 149.70 | 04 March 2025

USDJPY:

The Japanese yen (JPY) hit a one-week low around 151.00 against its US counterpart during the Asian session on Monday, although the decline remains limited amid expectations of a Bank of Japan (BoJ) rate hike. In fact, investors are assessing the possibility of further interest rate hikes by the BoJ, which has caused the 10-year Japanese government bond (JGB) yield to rise to its highest level since November 2009. In addition, the emergence of some US Dollar (USD) sell-offs is acting as a headwind for the USD/JPY pair.

Meanwhile, Bank of Japan Governor Kazuo Ueda warned last week that uncertainty over US President Donald Trump's tariff plans and their impact on the global economic outlook requires vigilance in setting monetary policy. This in turn has kept JPY bulls away from new bets and provided some support for the USD/JPY pair. Traders also seem reluctant to make new bets and prefer to wait for important US macroeconomic releases scheduled for the beginning of the new month, starting with the ISM manufacturing PMI, which will be released later in the North American session this Monday.

Trade recommendation: SELL 150.50, SL 151.00, TP 149.70

Our company provides an opportunity to earn income not only from your trading. By attracting clients within the affiliate program, you can get up to $30 per lot!