The Japanese Yen (JPY) remains flat despite the Bank of Japan (BoJ) announcing on Thursday that it left the Japanese government bonds (JGB) amounts unchanged compared to the previous operation.
The Japan ese Yen remains flat ahead of the US PMI release on Thursday. Japan 's Manufacturing PMI climbed to 50.5 in May from April's 49.6, suggesting the first expansion since May 2023. The US Dollar gained ground after the FOMC Minutes cast doubt on the Fed's willingness to proceed with rate cuts. The Japan ese Yen remains flat despite the Bank of Japan announcing on Thursday that it left the Japan ese government bonds amounts unchanged compared to the previous operation.
A further decline would be considered as the momentum shift. The USD/JPY pair could retest the upper boundary of the rising wedge near the psychological barrier at 157.00. A break above this level could propel the pair toward the recent high of 160.32. On the downside, the lower threshold of the rising wedge would act as immediate support, followed by the 21-day Exponential Moving Average at 155.49.
SEO Majors Macroeconomics Japan
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