In the Tokyo market, comments from Japan’s Vice Finance Minister Kato opposing a weaker yen caused USD/JPY to drop to 153.96. However, this was seen as a buying opportunity, and it rebounded to 154.65. Shortly after, reports about Russia approving changes to its nuclear doctrine led to risk-off yen buying, pushing USD/JPY down to 153.28.
Later, comments from Russian Foreign Minister Lavrov, stating that ‘Russia’s stance is to avoid nuclear war,’ brought some relief to the market. This led to yen selling and USD/JPY climbed to 154.79. Overall, USD/JPY showed strong support at lower levels. The candlestick formed a “dragonfly” shape with a long lower wick, signaling solid support.
However, with uncertainties still in the market, sudden risks like yesterday’s drop could limit upward movement.
USD/JPY Forecast Range: 155.00 (50%) – 154.20
※Note: The above content is not a guarantee of profit.. Please make your own trading decisions when trading.