Agency: The sudden news from the Bank of Japan seems to have brought new life to USD/JPY

Odaily Odaily News: Earlier, foreign media quoted Bank of Japan officials as saying that officials believe that waiting for a rate hike has little cost, while still being open to raising rates next week, depending on data and market developments. This news has given the dollar against the yen a new lease of life. Due to initial expectations of a rate cut next week, the currency pair initially fell from the 151.65-70 area to 151.02, but after the report mentioned waiting until January or longer, it reversed sharply all the way to 152.65. Today, traders are patiently waiting for the release of US CPI, and the light market may have exacerbated this shock, but the price action may give us insight into the possible volatility around the next decision of the Bank of Japan on December 19. The 50% retracement of the currency pair's decline from 156.75 in mid-November to the low of 148.65 at the beginning of this month is at 152.70, so we expect to see sell orders at this level. (Jinshi)