The Japanese Yen continues to face significant selling pressure during the first half of the European session on Wednesday. This ongoing weakness, combined with a notable increase in demand for the US Dollar, has propelled the USD/JPY currency pair above the mid-155.00s, as traders eye the key psychological level of 156.00 ahead of the upcoming Bank of Japan (BoJ) policy meeting.
As the market anticipates potential shifts in monetary policy, the exchange rate reflects heightened activity among traders. A firm USD coupled with the ongoing JPY selling bias suggests that sentiment remains skewed towards the greenback, potentially positioning USD/JPY for further gains if the BoJ maintains its current stance. The implications of these movements are crucial for forex market participants closely monitoring both central bank policies and currency fluctuations.
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Data Source: FX Killer Analysis Team Updated: 2025-12-17 08:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.