At the start of the Tokyo market, the USD/JPY rose above the previous day’s high of 145.21 yen and reached 145.51 yen. Later, during the G7 meeting, Japan’s Finance Minister Kato said he discussed issues like currency with US Treasury Secretary Bessent. This made people think they talked about stopping the yen’s weakness, so the USD/JPY dropped to 144.09 yen in the European market. Then, as US long-term interest rates went up, the dollar recovered to 144.97 yen, but in the New York market, it fell again to around 144.50 yen.
The earlier fall of the dollar from Moody’s downgrade has calmed down, but trust in the dollar is still weak. As a result, people are still buying yen and selling dollars. The USD/JPY might go even lower.
Expected USD/JPY trading range: 143.30 yen – 145.00 yen
Please note: This is not a promise of profit. Please make your own decisions when trading.