USD/JPY hits 5-month low due to Fed policy divergence
JPY's rally benefited from hawkish comments from BoJ Governor Ueda when he emphasized policy divergence between the Fed and BoJ.
USDJPY is falling again after 2 consecutive sessions of increase. Technical indicators show that the downward momentum is still strong. The key resistance to watch is the 200-day MA at 142.75, with further targets at 143 and 144. On the contrary, if the price can be maintained below this mark, the downtrend will be consolidated. Sellers may aim for the 141.90/85 area, followed by the multi-month bottom at 141 established last week, support at 140.45 and the 140 mark.
USDJPY is falling again after 2 consecutive sessions of increase. Technical indicators show that the downward momentum is still strong. The key resistance to watch is the 200-day MA at 142.75, with further targets at 143 and 144. On the contrary, if the price can be maintained below this mark, the downtrend will be consolidated. Sellers may aim for the 141.90/85 area, followed by the multi-month bottom at 141 established last week, support at 140.45 and the 140 mark.
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