Weekly Overview
The USD/JPY pair has been on a steady ascent, recently closing at 160.51 after a slightly bullish change of 0.10%. The currency pair has shown resilience, hovering near its high of 160.83 and maintaining support above 160.19. The recent CPI data from the US has contributed to volatility, impacting trader sentiment and positioning ahead of key economic announcements this week.
Key Events This Week
Several critical economic events are set to influence the USD/JPY this week:
- October 10: US CPI Release - Analysts will closely monitor inflation data, which could impact Federal Reserve policy.
- October 12: Bank of Japan (BoJ) Monetary Policy Announcement - Expectations are for continued dovishness, which may support a weaker yen.