Japanese yen stays under pressure post-BOJ

<p>USD/JPY itself is up 1.4% to 144.68 currently as the yen continues to be dismantled in European morning trade. This follows the BOJ pushback against any indication of an early hawkish policy pivot, as Ueda reaffirms that they will wait on the spring wage negotiations next year. It has been a case of endless disappointment for Japanese yen bulls throughout the year since Kuroda's departure in April.</p><p>While USD/JPY is seeking a push towards 145.00 next based on the technical outlook <a href="https://www.forexlive.com/news/usdjpy-extends-rebound-as-ueda-reaffirms-boj-wait-and-see-mode-for-now-20231219/" target="_blank" rel="follow">here</a>, other yen pairs are also making decent strides today. EUR/JPY is up 1.5% to 158.30 and is eyeing its 100-day moving average (red line) after staying supported by its October low and 200-day moving average (blue line) this month:</p><p>A similar technical pattern can also be seen for GBP/JPY, which is up 1.6% to 183.45 currently. Meanwhile, AUD/USD is up 1.6% to 97.30 and is working back towards the highs for the year at around 98.50-55.</p>

This article was written by Justin Low at www.forexlive.com.