The yen rose against the dollar today due to the state of anticipation for US inflation data after it had suffered widespread losses against a basket of currencies, but it still faces the possibility of resuming the decline against the dollar after the wage data for workers in Japan, which reduces the possibility of an early exit by the Bank of Japan from its monetary policies. This is described as extremely easy and strict in adhering to this policy, which means the continuation of the gap in interest rates between Japan and the United States.

The yen rose today against the dollar by 0.3%, noting that this rise came after the yen declined against the dollar by 0.9% in yesterday’s trading with Federal Reserve officials’ comments regarding interest rates.
The dollar benefited from last week's economic data, along with Federal Reserve comments from New York Reserve Bank President John Williams on Wednesday: It is still too early to call for lowering interest rates as the central bank still has some way to go to bring inflation back to 2. %.

The most important and anticipated event in the markets today is the release of US inflation data, which is expected to record 3.2%, up from the current level of 3.1%.

As for technical analysis, the Relative Strength Index is moving above the 50 levels in a downward direction, but we may be in the process of either confirming this trend with the next deal or continuing the upward trend. As for the MACD, it is also moving above the zero levels with the possibility of a negative intersection occurring according to the period of four hours.

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