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FOREX: USDJPY Approaching Post-FOMC High as Ueda Nods to Easing Inflation Risks

FOREX
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  • USDJPY is extending its impressive rally on Friday as Bank of Japan Governor Ueda acknowledged that “the upside risk to prices does appear to be easing given the recent yen strength”.
  • Ueda added that time remains to confirm certain points when making policy decisions, indicating that the BOJ will assess the incoming data and economic conditions overseas in the coming months, especially in the US.
  • USDJPY continues to press fresh session highs above 143.80 at typing and it is worth noting this is within close proximity of the post-FOMC high, located at 143.95. Price action sees us back above the 20-day EMA, an average that was pierced on Thursday and a close above this point will be a bullish development. Above here, markets would focus on a move back towards 145.57, the September 04 high.
  • One for the calendar, BOJ Governor Kazuo Ueda will speak in Osaka on September 24.
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  • USDJPY is extending its impressive rally on Friday as Bank of Japan Governor Ueda acknowledged that “the upside risk to prices does appear to be easing given the recent yen strength”.
  • Ueda added that time remains to confirm certain points when making policy decisions, indicating that the BOJ will assess the incoming data and economic conditions overseas in the coming months, especially in the US.
  • USDJPY continues to press fresh session highs above 143.80 at typing and it is worth noting this is within close proximity of the post-FOMC high, located at 143.95. Price action sees us back above the 20-day EMA, an average that was pierced on Thursday and a close above this point will be a bullish development. Above here, markets would focus on a move back towards 145.57, the September 04 high.
  • One for the calendar, BOJ Governor Kazuo Ueda will speak in Osaka on September 24.