$USDJPY initially refreshed seven-month high before reversing of late, still up for the third consecutive day Majors
USD/JPY initially refreshed seven-month high before reversing of late, still up for the third consecutive day.Upbeat Japan data fails to inspire Yen pair buyers amid dovish BoJ bias.portrays nearly 20 pips of seesaw momentum after Federal Reserve Chairman repeats the previous day’s comments on early Thursday morning in Europe. That said, the Yen pair rose to the highest levels since November 2022 before retreating from 144.70, around 144.60 at the latest.
It should be noted, however, that his comments suggesting, “Bank stresses that emerged in March 'may well lead' to a further tightening in credit conditions,” seemed to have triggered the USD/JPY pair’s retreat from the multi-day top afterward. Furthermore, fears of the Japanese government’s intervention to defend the Yen, as the policymakers have recently shown readiness to do it in case of emergency, also seem to prod the USD/JPY bulls.
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