USD/JPY’s bullish move has stalled at 131.00, where it could break above or push lower. The Bank of Japan has maintained its dovish sentiment, saying a weak yen could be good. The RSI shows a bearish divergence in the charts. The USD/JPY price is pushing lower on Monday after a bullish close on Friday. Friday’s bullish move could continue owing to the stronger dollar and the dovish BoJ. Today’s move lower could be investors taking profits and waiting for other buyers to join the market and push the price past the 131.00 resistance. -Are you interested in learning about the best AI trading forex brokers? Click here for details- On Monday, Bank of Japan Governor Haruhiko Kuroda said that the central bank’s top task was to support the economy by maintaining a “powerful” monetary stimulus. This statement is because Japan is not facing inflation pressures like the US and Europe. Inflation in Japan remains modest and is only driven by short-term factors like expensive raw materials. “Japan is not in a situation that warrants monetary tightening, as the economy is still recovering from the pandemic’s impact,” Kuroda said. The Ukraine war has pushed up the price of raw materials, and Japanese households are getting used to the higher prices. On the weaker yen, Kuroda stated that while the currency’s decline hurts households and retailers, it attracts overseas tourists as the country re-opens. “As long as the moves are stable and not very sharp, a weak yen, in general, is likely to impact Japan’s economy positively,” Kuroda said. USD/JPY key events today The USD/JPY investors do not expect much from the US. However, there will be some attention to Japan, releasing household spending data later in the day. This data will measure the change in consumers’ inflation-adjusted value of all expenditures. Get FREE Forex Signals Now! USD/JPY price technical analysis: Bearish RSI divergence Looking at the 4-hour chart, we see that prices are trading above the 30-SMA, showing bulls are in charge of this market. However, RSI shows weakness in the uptrend due to a bearish divergence. This divergence could push prices lower. -Are you interested in learning about the forex indicators? Click here for details- The 131.00 is a stiff level to break as it has been held on previous occasions and caused the price to push lower. The bulls will have to gather more momentum to break through this level. If they fail, we might see the price break below the 30-SMA and start a downtrend. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next AUD/USD Price Seems Bearish Below 0.7200, Eying RBA Rates Decision Olimpiu Tuns 3 weeks USD/JPY's bullish move has stalled at 131.00, where it could break above or push lower. The Bank of Japan has maintained its dovish sentiment, saying a weak yen could be good. The RSI shows a bearish divergence in the charts. The USD/JPY price is pushing lower on Monday after a bullish close on Friday. Friday's bullish move could continue owing to the stronger dollar and the dovish BoJ. Today's move lower could be investors taking profits and waiting for other buyers to join the market and push the price past the 131.00 resistance. -Are you interested in learning about the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.