The dollar rose against the yen due to expectations that the Bank of Japan is unlikely to exit its accommodative interest rate policy and not move towards raising interest rates early this year.

The dollar rose against the yen by 0.25% after the yen had been rising for two days in a row, coinciding with the recovery process's continuation from its lowest levels in four weeks.

Note that the monetary policy meetings of the Central Bank of Japan will begin in 2024 at the beginning of next week amid expectations of maintaining the policy that was described as very easy and interest rates without any change. Still, this meeting is likely to provide clearer evidence about the future of Japanese interest rates this year.

In addition to important US economic data expected this week, represented by retail sales, unemployment claims rates and existing home sales.

Technical analysis of the dollar pair against the yen for four hours. According to the Relative Strength Index, the trend is above the 50 level at the 60 level, and the sideways movement is at this level. As for the MACD, it is also moving above the zero levels, with the possibility of a positive intersection that may indicate the continuation of the upward movement.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.