The Japanese Yen (JPY) lost ground for the fourth consecutive session on Tuesday, driven by the significant interest rate differential between Japan and the United States (US).
The Japan ese Yen depreciates due to hawkish sentiment surrounding the Fed maintaining higher rates for longer. Japan ese Finance Minister Shunichi Suzuki voiced worries regarding the adverse effects of the weak Japan ese Yen. The US Dollar remains firmer amid higher US Treasury yields. The Japan ese Yen lost ground for the fourth consecutive session on Tuesday, driven by the significant interest rate differential between Japan and the United States .
A break above this level could support the pair to approach the high of 160.32, a level never seen since April 1990. On the downside, the lower threshold of the ascending triangle appears as the immediate support, around the major level of 155.50, followed by the 21-day Exponential Moving Average at 155.25. A break below this level could exert downward pressure on the USD/JPY pair to move toward the throwback support at 153.60.
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