USDJPY Technical Analysis – The BoJ backtracks after the Fed’s rate cut ...Middle East

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USDJPY Technical Analysis – The BoJ backtracks after the Fed’s rate cut
Fundamental OverviewLast Friday, the JPY weakened across the board following the BoJ policy decision as Governor Ueda made a surprisingly dovish turn by saying that “there is some time to make a decision on monetary policy because upside price risks have decreased given the recent FX moves”. He also mentioned that it’s important for them to check overseas economic trends including US when making policy decisions. This suggests that the Fed’s 50 bps cut is making them fear more JPY appreciation and decreases the need to act with more tightening. Now that the Fed’s decision is behind us, the focus will be on the economic data. If we start to see an improvement, then Treasury yields will likely

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