Amid the drop yesterday, the pair did take out minor support around 147.61-70 before buyers intervened after the US data. As such, that will remain a notable technical point again to any further downside move today.
Traders are slowly trying to push the idea of a December rate hike but there is still quite some time before that. So, we'll have to see how the BOJ wants to communicate this as the data starts to afford them some leeway in being a little more bold. But knowing the BOJ, they won't pre-commit to anything until they are 100% certain of that being the move they want to make.
Going back to USD/JPY, the big picture still shows price action resting in between the 100 and 200-day moving averages of 145.49 and 149.24 respectively. That is defining the rangebound play for the pair since July, barring the failed breakout of 150.00 before the US jobs report.
This article was written by Justin Low at investinglive.com.Hence then, the article about usd jpy pulls back a little after the rebound yesterday was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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