Doubts about the Bank of Japan's ability to raise interest rates are further limiting the Japanese Yen's gains. | 09 Tháng mười hai 2024

09 Tháng mười hai 2024, USD/JPY

Doubts about the Bank of Japan's ability to raise interest rates are further limiting the Japanese Yen's gains.

USDJPY:

The Japanese Yen (JPY) begins the new week on a positive note, supported by a combination of factors, although the upside appears limited. The latest government data indicates that Japan's economy expanded at a faster pace in the third quarter than previously estimated. Furthermore, geopolitical tensions and concerns over US President-elect Donald Trump's impending trade tariffs are providing support for the Japanese yen as a safe haven.

Meanwhile, the recent decline in US Treasury yields is contributing to the yen's relative appreciation against the US dollar, maintaining the USD/JPY pair below the 150.00 psychological threshold during the Asian session. Nonetheless, market uncertainty regarding the Bank of Japan's (BoJ) potential interest rate hikes at its December meeting may dissuade aggressive bets on the Japanese Yen, limiting potential losses on the currency pair.

Trade recommendation: We follow the level of 150.00, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.

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David Johnson
Analyst of «FreshForex» company
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