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

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPY_1-360×360.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="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair is in search of clear <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" 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="https://blog.roboforex.com/blog/2021/10/21/trade-balance-how-to-use-it-in-forex/" 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>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/24/jpy-in-a-holding-pattern-overview-for-january-24-2024/">JPY in a Holding Pattern: Overview for January 24, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>