The Japanese Yen (JPY) halts its three-day losing streak on Thursday.
The Japan ese Yen strengthens as overseas investors anticipate the BoJ raisingrates in July. The Japan ese government's 10-year JGB yield remains stable at around 1.09%, close to its recent high of 1.10%. Fed Chair Powell highlighted the urgent need to monitor the deteriorating labor market. The Japan ese Yen halts its three-day losing streak on Thursday. This upside is possibly driven by the rising speculation that the Bank of Japan might raise interest rates at its upcoming July meeting.
60 on Thursday, maintaining an upward trajectory within an ascending channel pattern, indicating a bullish bias according to daily chart analysis. Supporting this outlook, the 14-day Relative Strength Index sits just below the 70 level, suggesting potential overbought conditions. A breach above this level could signal a need for caution and a possible correction. The USD/JPY pair may aim for psychological resistance near 163.00, located at the upper boundary of the ascending channel.
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