26 April 2024, USD/JPY
Event to watch out for today:
15:30 GMT+3. USD - Core PCE Price Index
USDJPY:
The Japanese yen (JPY) languishes near multi-decade lows against its US counterpart during the Asian session on Friday. Following the historic decision in March to raise short-term interest rates for the first time in 17 years, the central bank is expected to leave policy parameters and bond purchases unchanged amid signs of cooling inflation in Japan. Lack of action from Japanese authorities and a lower consumer price index in Tokyo are also putting pressure.
At the same time, the lack of any decisive action from the Japanese authorities to support the local currency does not give the JPY bulls any respite. Meanwhile, the US dollar (USD) is holding near the two-week low reached on Thursday in response to data showing a sharp slowdown in economic growth in the US, which in turn limits the USD/JPY's upside. Nevertheless, the unwelcome rise in inflation confirmed the market's bets that the Federal Reserve (Fed) will raise interest rates for longer, which should serve as a tailwind for the currency pair ahead of the release of the US Personal Consumption Expenditure (PCE) price index.
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!
en 
id 
ar 
ru 
vn 
es 
pt 
kz 
ua 
tj 
uz 
az 
ms 