The EURJPY jumped above 149 yen on Friday morning due to news coming out of Japan. The unemployment rate in Japan rose to 2.8%, (expected 2.5%; last month, 2.6%; a year earlier, 2.6%); it was only higher during the summer of 2021 (2.9%).
The meeting of the Bank of Japan was also watched by the market participants. It is now headed by KazuoUeda. The Bank of Japan, as expected, said that it would continue to maintain ultra-low rates. However, at the same time it became known that the bank will conduct a "broad review of monetary policy."
It is possible that this revision will lay the groundwork for Kazuo Ueda's phasing out of the massive stimulus program pursued by his predecessor.
Maybe the level of the 148 yen/euro (1), which was previously a resistance, will become a support to the bulls in order to try and break through the psychological marker of 150 yen/euro. This mark was unattainable in 2014.
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