JPY in a Holding Pattern: Overview for January 24, 2024

<div><img width="360" height="360" src="×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="USD/JPY analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair is in search of clear <a href="" data-internallinksmanager029f6b8e52c="101" title="Signals">signals</a> for its near-term trajectory.</p>

<p>The Japanese yen, in tandem with the US dollar, is currently in a state of suspension, awaiting discernible cues. The present USD/JPY exchange rate is at 147.83.</p>

<p>The yen has found some support as investors meticulously dissect the outcomes of the Bank of Japan's recent meeting. There is a degree of optimism regarding Kazuo Ueda, the governor of the regulator, adopting a somewhat hawkish stance on interest rates, or at least that is the sentiment prevailing in the market.</p>

<p>Morning statistics from Japan painted a mixed picture. In December, imports recorded a year-over-year decline of 6.8%, beating the anticipated 5.3% decrease. Meanwhile, exports exceeded expectations with a 9.8% y/y increase, surpassing the forecasted 9.1%.</p>

<p>The <a href="" data-internallinksmanager029f6b8e52c="207" title="Trade balance">trade balance</a> in December showed a favorable outcome, sending a positive signal.</p>

<p>Trading activity is likely heightened, partially influenced by the weakened yen.</p>

<a href="">Open Trading Account</a></p><p>The post <a href="">JPY in a Holding Pattern: Overview for January 24, 2024</a> appeared first at <a href="">R Blog – RoboForex</a>.</p>

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