The pair is trying to get out from its oversold status after the selloff that was triggered by the hawkish move of Ueda. The BoJ governor will meet lawmakers on Friday in both Lower and Upper houses and will face scrutiny for its monetary policy. Volatility of the JPY is expected to rise during the Asian session.
At the moment the rate is trading at 146.44 , up 0.82%.
The downtrend is still valid albeit the pair bottomed near its 2024 lows at the beginning of this month after a sharp selloff that followed a change in monetary policy with a rate hike that interrupted a multi year dovish monetary policy.
