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 155.51 the previous trading day, marking a daily gain of 0.10%. The RSI indicator for the pair, which is above its 20-day moving average, is at 78.63, while its momentum is at 102.47. In intraday downtrends, the 155.41 level can be monitored. If it falls below this level, supports at 155.30, 155.09 and 154.97 could become important. In possible increases, resistance levels at 155.62, 155.73 and 155.94 will be monitored. Support: 155,300 – 155,090 Resistance: 155,620 – 155,730