On January 2, the first trading day of the year, the dollar strengthened against the yen, reaching 157.77 yen before falling back to 156.44 yen. In the New York market, the dollar rose again to 157.85 yen but was pushed back to the upper 156 yen range as the yen gained strength.
Although market activity is still low, the USD/JPY has remained in a high range since the end of last year. If the sideways movement around the 158 yen level lasts too long, there could be selling pressure. However, the overall trend of a strong dollar and weak yen is still ongoing. If there is a drop before the U.S. Employment Report at the end of this week, it could create opportunities for the dollar to rise after the report.
Today’s USD/JPY Forecast Range: 158.00–156.20 yen
This Week’s USD/JPY Forecast Range: 160.50–155.00 yen
Note: The above information does not guarantee profits. Please make your own decisions when trading.