After the U.S. jobs report last Friday, the USD/JPY fell from around 150.50 to the low 147 range. On Monday morning in Tokyo, people started buying U.S. dollars again. Also, people bought back other yen pairs, which pushed USD/JPY up to 147.90. In Europe, dollar buying continued, and the price went up to 148.08.
However, because people are worried about the U.S. economy, many think the U.S. might lower interest rates soon. After the dollar buying ended, the USD/JPY dropped again. In New York, it went down to 146.87. Even though U.S. stocks went up, it only made up for last week’s losses. This made investors want to avoid risk, so they bought yen.
Selling of the dollar and buying of the yen may continue, and the USD/JPY could fall more. But if the U.S. economic report (ISM Non-Manufacturing Index) is better than expected during New York hours today, the dollar might go up for a short time.
USD/JPY Expected Price Range: 145.90 – 147.60 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.