USDJPY

The Japanese Yen (JPY) continues to slide against its US counterpart, trading near a decade-low during the Asian session on Wednesday. The Bank of Japan’s (BoJ) cautious approach to further policy normalization marks a major divergence from expectations that the US Federal Reserve (Fed) will delay cutting interest rates amid sticky inflation. The pair closed at 154.85 the previous trading day, marking a daily gain of 0.03%. The RSI indicator for the pair, which is above its 20-day moving average, is at 75.39, while its momentum is at 102.01. The 154.82 level can be monitored for intraday downside movements. If it falls below this level, supports at 154.76, 154.68 and 154.62 could become important. In case of possible increases, resistance levels at 154.90, 154.96 and 155.05 will be monitored. Support: 154,760 – 154,680 Resistance: 154,900 – 155,050