USD/JPY and BoJ interest rates
|USD/JPY 5 year average = 120.79 and 10 year = 116.33. The 138.00 target as specified is a great target but leaves USD/JPY slightly overbought. The target at 137.15 is a much better target. The base for USD/JPY stands at 127.58 taking into account averages from 148.00 to 106.00’s.
USD/JPY remains massively overbought from the 50 day average, 78 day and many averages dating to 1999. USD/JPY trades overbought to the 5, 10 and 14 year averages.
The current driver to USD/JPY is the 78 day average. USD/JPY lower must break 148.65. As USD/JPY failed to break lower, bounces higher from 149.00’s is the result of 149.73 and 149.18. On every model, 149.00’s becomes oversold.
USD/JPY Upper Levels and short points for today: 150.52, 150.62, 150.71, 150.81, 150.90, 151.00, 151.09, 151.19
For the next weeks, USD /JPY will trade as follows:
Above = 151.36, 151.18, 150.82, 150.58, 150.27, 150.03. Below = 149.67, 149.49, 148.62, 147.40
Below : 149.67, 149.49, 148.62, 147.40
Below are graphs to BOJ monthly average Interest rates from 1 month, 2 months and 3 months to cover 2023 to 2024.
Note the 2 month average in proximity to the 78 day average.
One month
Two months
Three months
Monthly averages: One, two and three months
Blue = 1 Month, Orange = 2 month, Green = 3 month.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.