USDJPY Sellers Eased as BoJ Hike Looms

USDJPY sellers have retreated over the past five days as markets price in a potential Bank of Japan rate hike. James Stanley, senior strategist at DailyFX, notes that selling pressure has eased despite the looming BoJ increase.

The outlook for USDJPY now depends on future policy signals from both the Bank of Japan and U.S. Federal Reserve, with traders debating whether to sell rallies or buy pullbacks.