USD/JPY forms a death cross: is the Japanese yen about to soar?
Portfolio Pulse from
The USD/JPY exchange rate has been experiencing significant volatility due to multiple factors: the US dollar index sell-off, divergent monetary policies between the Federal Reserve and Bank of Japan (BoJ), rising Japanese inflation, and potential trade tensions. The currency pair has formed a bearish 'death cross' technical pattern, suggesting potential further depreciation of the USD against the Japanese yen.
March 23, 2025 | 5:30 am
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POSITIVE IMPACT
The Invesco CurrencyShares® Japanese Yen Trust (FXY) could benefit from the current USD/JPY downward trend, driven by BoJ's hawkish stance and potential further rate hikes.
The death cross in USD/JPY and BoJ's hawkish monetary policy suggest potential appreciation of the Japanese yen, which would positively impact the FXY ETF tracking the yen's value.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80