Yesterday in the Tokyo market, the USD/JPY rose to 157.47 due to strong buying during the midday trading session. European markets remained closed, leading to quiet trading. However, in the New York market after the holidays, the Dollar gradually increased. The stock market also rose slightly across all three major indices, and with a weaker Yen, the Dollar/Yen reached the 158 level for the first time in five months.
From today, major markets worldwide will reopen, but trading is expected to remain thin. This makes the market more likely to react to sudden news, so a wide price range is advised.
Dollar/Yen Expected Range: 159.20 – 157.00
Note: The above content is not a guarantee of profit. Please make your own decisions when trading.