The post USD/JPY makes gains, attempting to hold 149.90 appeared on BitcoinEthereumNews.com.

Japanese Yen continues coiling in a right-angled triangle, threatening to breakout.  Dovish comments from BoJ’s governor Ueda propelled USD/JPY’s last push higher.  There is a growing chance of intervention from Japanese authorities as key price and yield levels are near.  The Japanese Yen (JPY) has held its gains against the US Dollar (USD) late Tuesday afternoon, with the USD/JPY recovering from a weak start to the week and returning to familiar territory just below the key 150 level. At the time of writing, USD/JPY is up about 20 basis points, just beneath 149.90. The trend is up and biased to extend with the threat of a breakout from a right-angled triangle providing a bullish technical clue. The daily high slightly earlier in the session was 149.9290. Comments from Bank of Japan (BoJ) governor Katsuo Ueda fueled USD/JPY’s last bullish impulse. The BoJ governor said on Friday that the bank would be maintaining its current accommodative approach in response to figures showing a slowdown in inflation.  Daily digest market movers: Japanese Yen news and market movers  The Japanese Yen continues weakening versus USD after comments from BoJ Governor Kazuo Ueda on Friday, in which he reiterated that the BoJ would be “patiently maintaining current easy policy.” This came after the release of Japanese inflation data for September revealed a slowdown in price rises.  The National Consumer Price Index rate fell to 3.0% from 3.2% a year ago. National CPI ex-Fresh Food inflation fell to 2.8% from 3.2% year-on-year (YoY). Whilst still above analysts’ estimates of 2.7%, it was the first time since August 2022 that the index growth had fallen below 3.0%. National CPI ex Food and Energy rate fell to 4.2% from 4.3% YoY.  The yield on the 10-year Japanese Government Bond (JGB) has risen 0.18% to trade at 0.854% at the time of…

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Filed under: News - @ October 25, 2023 1:24 am