The Japanese Yen (JPY) remains depressed for the fifth straight day on Monday and weakens further below the 149.00 mark, to over a one-week low against its American counterpart during the Asian session.
The Japanese Yen continues to be undermined by the uncertainty over the BoJ’s policy stance. Hawkish Fed expectations underpin the USD and provide an additional lift to the USD/JPY pair. Investors now look to the BoJ and Fed policy decisions before placing fresh directional bets. The Japanese Yen remains depressed for the fifth straight day on Monday and weakens further below the 149.00 mark, to over a one-week low against its American counterpart during the Asian session.
Investors might now prefer to move to the sidelines and look to the latest monetary policy updates by the BoJ and the Fed on Tuesday and Wednesday, respectively, before determining the next leg of a directional move for the USD/JPY pair. Technical Analysis: USD/JPY might aim to reclaim 150.00 psychological mark and test YTD top set in February From a technical perspective, a move beyond the 61.
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