Yesterday during Tokyo trading hours, Bank of Japan (BOJ) Governor Ueda mentioned the importance of labor negotiations (Shunto) and the direction of the incoming Trump administration as key factors for future policy. This followed his comments after last week’s BOJ meeting.
Some market participants speculated that an aggressive statement might follow, especially as the yen weakened afterward. However, there was no change, and USD/JPY rose about 30 sen from around 157 yen. Trading ended after that.
Today, most markets are closed for Boxing Day, but the Tokyo, Singapore, and NY markets will be open. Trading is expected to remain light, with narrow price movements. However, the yen could be targeted, so be careful with your positions
USD/JPY Expected Range: 158.50 – 156.00
Note: The above content does not guarantee profits. Please make your own decisions when trading.