The Japanese yen stabilized around 148 per dollar on Wednesday, recovering after two days of declines as a weaker US dollar offset trade conflict concerns. Trump vowed more tariffs after the EU and Canada retaliated against his steel and aluminum duties, escalating tensions.
The yen remained supported by expectations of further BOJ rate hikes, driven by strong wage growth and inflation. Japanese companies approved significant wage increases for the third year, boosting consumer spending and giving the BOJ more flexibility for future hikes.
Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.
The yen remained supported by expectations of further BOJ rate hikes, driven by strong wage growth and inflation. Japanese companies approved significant wage increases for the third year, boosting consumer spending and giving the BOJ more flexibility for future hikes.
Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.