The yen rose across the board due to the expectation of an early interest rate hike by the Bank of Japan, as well as risk-off yen buying caused by the sharp fall in the New York stock market. In addition, last weekend President Trump acknowledged the view that the economic slowdown will continue for some time, which led to increased dollar selling and the dollar/yen rate fell below the previous week’s low of 146.95 yen to 146.64 yen. It was then bought back up to around 147 yen. However, risk-off continues as the trade war due to tariffs heats up. The downward trend of the dollar/yen continues as the Bank of Japan continues to raise interest rates due to rising prices in Japan.
Expected range of the dollar/yen: 147.80 yen to 146.60 yen
Note: The above information does not guarantee profits. Please make your own decisions when trading.