The post USD/JPY remains trapped near 150.00 as investors dare BoJ to intervene appeared on BitcoinEthereumNews.com.

The USD/JPY continues to pin into the 150.00 handle as investors await a potential BoJ market intervention. Calls are rising for the BoJ to take action to protect consumers from inflationary pressures. Despite defensive concerns, the BoJ remains skittish about possible deflationary issues in the future. The USD/JPY continues to cycle close to the 150.00 major handle, and the pair has constrained into a tight holding pattern after failing to make a meaningful break after tipping into 150.16 at the beginning of October. As the Bank of Japan (BoJ) continues to remain fearful of Japanese inflation descending back into deflationary levels in the future, consumers and investors continue to call for the Japanese central bank to do something to protect consumers from inflation that is currently eating away at citizens’ purchasing power in the here and now. USD/JPY: Japanese officials to intervene at the earliest feasible moment – MUFG The US saw a clean beat on Purchasing Managers’ Index (PMI) figures on Tuesday, keeping the US Dollar well-elevated as the US economy continues to see a firming up of growth indicators. US PMI headline figures came in above expectations, printing at 50.0 and climbing over the previous month’s 49.8 as purchasing managers across the manufacturing and services sectors see the US economy seeing firmer growth in the coming month. JPY traders will be looking ahead to Japan’s Tokyo Consumer Price Index (CPI) inflation figures early Friday, with Core Tokyo CPI (headline inflation less volatile food prices) forecast to hold steady at 2.5% for the year into October. The headline Tokyo CPI annualized figure for September last came in at 2.8%, and the BoJ will be looking for evidence that inflation will not decline past the central bank’s 2% minimum target. USD/JPY Technical Outlook With the USD/JPY pair trapped just south…

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Filed under: News - @ October 25, 2023 6:24 am