Intraday price movements:
USD/JPY opens the day of a new week at 134.97, dropping to an intraday low of 132.96 before hitting an intraday high of 134.99. The pair continues to struggle to gain amid bearish market sentiment, trading at 133.50 above its 50-day SMA of 132.41, down by 1.10% on the day at the press time.
There is no critical economic event on the day that may affect the price of USD/JPY on Monday, the week's first and relatively silent day.
Markets will be closely monitoring the Consumer Price Index ex Food & Energy (MoM)(Feb) released by the US Department of Labor Statistics (Tue, Mar 14th, 2023 12:30 GMT) and Bank of Japan’s (BoJ) Monetary Meeting Minutes (Tue, Mar 14th, 2023 23:50 GMT).
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