The Japanese yen (JPY) advances an impressive 1.0% against the US dollar (USD) but is an intermediate yield between the G10 currencies in an environment of material weakness of the USD, says the head of FX strategy of Scotiabank, Shaun Osborne.
For the USD/JPY, level 140 is critical
“The profits are promoting Y in a new local maximum and threatening to break levels not seen since mid -2023. The launch calendar of this week is relatively empty, leaving the markets focusing on Japan’s commercial negotiations with the USA”
“The representatives are planning to carry out their second round of negotiations on April 24. For the USD/JPY, level 140 is critical, having offered support in 2023 and 2024. A break should provide medium-term weakness towards the area of ​​130/MID-120s.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
