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6 November 2025,06:13
Daily Market Analysis New
6 November 2025, 06:13
*The Japanese yen rebounded modestly, though the long-term outlook remains weak.
*BOJ minutes revealed division among policymakers, with two members calling for an immediate rate hike.
*Rates held steady at 0.5%, as several board members preferred to wait for more economic data before acting.
Market Summary:
The Japanese yen recovered slightly in recent sessions, though its broader trend remains under pressure amid mixed policy signals from Tokyo. The rebound came after minutes from the Bank of Japan’s (BOJ) September meeting revealed growing debate within the Monetary Policy Committee (MPC) over the timing of the next interest rate increase.
While the central bank kept its short-term policy rate unchanged at 0.5%, the minutes showed that two hawkish members advocated for an immediate hike to 0.75%, underscoring increasing discomfort with prolonged monetary easing. Several other members, however, favored patience, noting that it “would not be too late to act” after receiving firmer economic data. One member also cited concerns over a potential slowdown in the U.S. economy as a reason to delay policy tightening.
The divided stance highlights the shifting focus within the BOJ—from whether to hike to when. Nonetheless, with Prime Minister Fumio Kishida’s administration signaling larger fiscal spending plans to support households and businesses, markets perceive a more dovish policy backdrop, which could temper any yen appreciation in the near term.
Looking ahead, investors remain cautious as they weigh mixed signals from the BOJ against domestic fiscal developments. Upcoming Japanese inflation and wage growth data will likely play a key role in shaping expectations for the timing of the next policy adjustment.
Technical Analysis
USD/JPY is trading higher after a successful breakout above the 153.20 resistance level, supported by improving bullish momentum. The MACD indicates diminishing bearish pressure and is forming a golden cross, while the RSI at 52 remains slightly above the midline, suggesting a mild upside bias.
In the short term, if bullish momentum persists, the pair could extend gains toward the next resistance at 155.60, potentially confirming a breakout–retest–continuation setup. However, a failure to sustain momentum may trigger a pullback toward support at 153.20, with a deeper retracement likely testing 149.75.
Resistance Levels: 155.60, 157.65
Support Levels: 153.20, 149.75
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