In the Tokyo market yesterday, the dollar-yen went up close to 148 yen because of special month-end buying. In the European market, it rose further to 148.18 yen as U.S. long-term interest rates increased. But later, when U.S. interest rates went down, the dollar-yen also fell to around 147.30 yen, close to the day’s low.
There were no major economic reports, so the market moved without a clear direction, mainly driven by short-term traders.
Trust in the Federal Reserve Board (FRB) is lower because of Governor Cook’s resignation, which is stopping the dollar from rising further. At the same time, buying of the dollar related to tariffs is still strong.
The 200-day moving average near 149 yen is acting as resistance, while the 90-day moving average near 146 yen is supporting the price. The 21-day moving average shows the price may continue to move in a narrow range for now.
Expected Dollar-Yen Range: 147.00 – 148.00 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.