{"id":16413,"date":"2025-01-09T10:53:30","date_gmt":"2025-01-09T10:53:30","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=16289"},"modified":"2025-01-09T10:53:30","modified_gmt":"2025-01-09T10:53:30","slug":"yen-awaits-wage-trends-ahead-of-boj-meeting","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/yen-awaits-wage-trends-ahead-of-boj-meeting\/","title":{"rendered":"Yen Awaits Wage Trends Ahead of BoJ Meeting"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/download-5-1-1-1024x559.png\" alt=\"\" class=\"wp-image-16609\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USDJPY closed at 158.036, down from its 158.311 open. It had a high of 158.553 and a low of 157.763.<\/li>\n\n\n\n<li>MACD signals bearish momentum, while moving averages flatten near the current level.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>The Japanese yen has seen limited movement despite wage data coming in better than expected. While the wage growth beat offers some optimism, <strong>real wage growth remains slightly negative<\/strong>, dampening its impact on monetary policy expectations.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Japan Nov real wages fall for 4th straight month as inflation weighs <a href=\"https:\/\/t.co\/XvRXVQ3lej\">https:\/\/t.co\/XvRXVQ3lej<\/a> <a href=\"https:\/\/t.co\/zzpLBR9Wef\">pic.twitter.com\/zzpLBR9Wef<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1877223794462359573?ref_src=twsrc%5Etfw\">January 9, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At its most recent meeting, the <strong>Bank of Japan (BoJ)<\/strong> kept rates unchanged, as widely anticipated. However, Governor <strong><a href=\"https:\/\/t.co\/9kjuO8FSVd\">Kazuo Ueda<\/a><\/strong> delivered a less hawkish tone during the press conference. Ueda tied future rate hikes to sustained improvements in wage trends, with more clarity expected by <strong>March or April<\/strong>.<\/p>\n\n\n\n<p>The market has now priced out the possibility of a January hike, focusing instead on the BoJ\u2019s next meeting in March. Despite today&#8217;s <a href=\"https:\/\/t.co\/bGvFJY8S9W\" title=\"\">wage data<\/a> beat, this cautious stance has limited the yen\u2019s upside potential.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-10-1024x445.jpg\" alt=\"\" class=\"wp-image-16290\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: USDJPY consolidates near 158.04, testing support as bearish momentum emerges following resistance at 158.55, as seen on the <\/em><em><a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a><\/em><em>.<\/em><\/p>\n\n\n\n<p>With Ueda&#8217;s hawkish stance and the dollar&#8217;s strength bearing down against market pairs, the Ninja has seen a dip of 0.17%. The pair closed at 158.036 after testing resistance near 158.55, reflecting market indecision.<\/p>\n\n\n\n<p>The pair&#8217;s movements reflect broader market caution, driven by mixed signals from the US dollar and global bond markets. Concerns over the Bank of Japan\u2019s potential policy changes are also adding to volatility, with traders awaiting clarity on interest rate trends.<\/p>\n\n\n\n<p>While the market\u2019s pricing for rate cuts remained largely unchanged, <strong>Federal Reserve Governor <a href=\"https:\/\/t.co\/Ud6vPQzuDp\" title=\"\">Christopher Waller<\/a><\/strong> reiterated that the pace of easing will be driven by inflation data. <\/p>\n\n\n\n<p>Next week\u2019s <strong><a href=\"https:\/\/tradingeconomics.com\/united-states\/consumer-price-index-cpi\" title=\"\">CPI report<\/a><\/strong> is expected to play a bigger role in shaping interest rate expectations than tomorrow\u2019s <a href=\"https:\/\/www.forexfactory.com\/calendar?day=dec6.2024#detail=136007\" title=\"\"><strong>NFP<\/strong> <\/a>data, barring any major surprises.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>&nbsp;now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPY steady despite wage data beat, BoJ focus shifts to March policy decisions. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":16609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[31],"tags":[45],"class_list":["post-16413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-yen"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/16413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=16413"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/16413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/16609"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=16413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=16413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=16413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}