USDJPY H4 4 March 2024

USD/JPY, H4

USD/JPY experiences uncertainty due to mixed monetary policy statements from Bank of Japan
members. While Hajime Takata signals a potential exit from ultra-loose policy with the inflation
target in sight, Governor Kazuo Ueda provides a contradictory view, emphasising the need for
confirmation in a positive wage-inflation cycle. This mixed sentiment continues to fuel uncertainty for the USD/JPY pair.

USD/JPY is trading lower following the prior retracement from the resistance level. Suggesting the pair might extend its losses since the RSI stays below the midline.


Resistance level: 150.80, 151.70

Support level: 149.40, 147.60