Last week, before the U.S. central bank meeting, the dollar was sold. But the meeting statement and outlook for interest rates were stronger than expected, so the dollar became stronger again. The dollar–yen fell to around 145.50 but then went up to the low 148 area before the Bank of Japan meeting.
Before the meeting, people expected Japan to raise rates, so the yen was bought, and the price went down to around 147.20. However, because of political worries in Japan and the Bank of Japan’s careful stance, the dollar–yen went up again to the low 148 area. In the end, it could not move out of the price range that has continued since August.
This week, there are no big events, so the range market is expected to continue. But since hopes for U.S. rate cuts have become smaller, the dollar–yen may face pressure when people again expect future rate cuts.
Today’s forecast range: 147.40 – 148.20 yen
This week’s forecast range: 146.30 – 148.50 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.