On the day Trump’s new administration started, tariffs were temporarily delayed, easing concerns about rising inflation. In the Tokyo market, the USD/JPY reached a high of 156.58 yen but then pulled back. Later, in the New York market, it rose again to 156.46 yen. However, reports of the tariff delay caused the USD/JPY to drop to 155.42 yen, making the mid-156 yen level a temporary ceiling.
With no market confusion following the tariff delay, the Bank of Japan’s chances of raising interest rates remain high.
If there is no confusion in today’s New York market, the USD/JPY is expected to gradually test lower levels.
USD/JPY Forecast Range: 156.50 yen – 155.00 yen
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