USD/JPY: Japanese Economy Contracts in Q1, Affecting BoJ Rate Hike Hopes
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#e140b6a8 ver:0.46

The Japanese economy contracted in Q1 2024, affecting hopes for a Bank of Japan rate hike. The USD/JPY pair is approaching key resistance at 150-152.00. Yen weakness has returned, but US and UK CPI data could impact FX trends. US interest rate recalibration and risk sentiment will determine the outlook for USD/JPY. The technical picture suggests signs of exhaustion and potential consolidation or modest downside. The likely intervention from the BOJ and reversal in US bond yields have eroded the bullish case for USD/JPY. Traders are advised to sell rallies or wait for a possible push back towards 154.50. #USDJPY #forex #economy...

#newstr #Usd/jpy #JapaneseEconomy #Q1Gdp #BankOfJapan #InterestRateHike #UsLaborMarket #HousingMarket #Fomc #MovingAverages 

 https://here.news/story/e140b6a8?ver=0.46