USD/JPY, H4 9 April 2024
The Japanese yen faced downward pressure following reports of continued declines in real wages for Japanese workers, marking the 23rd consecutive month of decrease. This trend, indicating the impact of higher prices on consumer spending, saw inflation-adjusted real wages fall by 1.3% in February, following a revised decline of 1.1% in January. The prospect of reduced inflation risks and lower Japan Treasury yields accompanied the downward trajectory of the yen.
USD/JPY is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains after breakout.
Resistance level: 151.95, 153.10📉
Support level: 150.80, 149.35📈
The Japanese yen faced downward pressure following reports of continued declines in real wages for Japanese workers, marking the 23rd consecutive month of decrease. This trend, indicating the impact of higher prices on consumer spending, saw inflation-adjusted real wages fall by 1.3% in February, following a revised decline of 1.1% in January. The prospect of reduced inflation risks and lower Japan Treasury yields accompanied the downward trajectory of the yen.
USD/JPY is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains after breakout.
Resistance level: 151.95, 153.10📉
Support level: 150.80, 149.35📈