
Because of confusion over new tariffs, some people thought the Bank of Japan might delay raising interest rates.
This made the dollar rise above the key level of 147 yen.
However, after the tariff shock calmed down, people started buying yen again and selling dollars to take profits.
As a result, the dollar fell back to around the middle of 146 yen.
This means the price didn’t stay above 147 yen for long, showing that it is hard for the dollar to go higher.
In the New York market, U.S. long-term interest rates went down before the FOMC meeting minutes were released.
This caused the dollar to drop even more, reaching 146.25 yen.
Earlier this week, before the U.S. announced a 25% tariff on Japan, the USD/JPY was around the middle of 144 yen.
So, there is still a chance the dollar could fall further.
Expected USD/JPY Price Range: 145.60 – 146.90 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.