BOJ governor Ueda: Will pay attention to upside risks to prices from weak yen

• Inflation outlook for fiscal year 2025, 2026 is much less certain than for 2024
• New risks could emerge depending on who will be the new US president

The rest here are just token remarks but these ones are perhaps hitting in an air pocket with USD/JPY falling below its 100-hour moving average (seen below) ahead of Ueda’s presser. That arguably enabled sellers to feel a little more bold, at least from the technical side of things.

The 200-hour moving average (blue line) at 152.20 is now under scrutiny with quite a bit of room to extend towards its 200-day moving average as outlined here.

This article was written by Justin Low at www.forexlive.com.