Japanese yen news

USD/JPY: A very choppy market as the Bank of Japan continues to be the focus of traders, as Friday is its next interest rate decision.

After Reaching New Record High, Bitcoin Fails to Close at a High; President Trump Floats 10% Tariff on China, Threatens EU, Panama; US Dollar Continues Retreat; Bank of Japan Strongly Expected to Hike Rates by 25 bps

EUR/JPY: Lots of volatility as the market awaits the Bank of Japan interest rate decision on Friday with the probability traders are looking at a period of consolidation

USD/JPY: The ¥155 level now offers a significant amount of support, while the interest rate differential between the two currencies will continue to favor the greenback

Bitcoin Powers to New Record High; Global Stocks Mixed Ahead of President Trump's Inauguration; Reports Bank of Japan Certain to Hike Rates This Week

During the daily analysis that I do of major currency pairs, the USD/JPY pair has captured my attention as we tried to break down below the ¥155 level, which is an area that has been important multiple times. In fact, it is almost as if the level acts like a brick wall, so that tells you just how much support there is there.

Markets are seeing rising risk-on sentiment as economic data points towards an increasing likelihood of US rate cuts in the foreseeable future.

Get the weekly Forex forecast for major currency pairs for the week of January 20-25, 2025 here.

For the second consecutive day, the USD/JPY currency pair has been subject to selling pressure, pushing it towards the support level of 155.21,

US Core Inflation Metric Comes in a Fraction Low, Stocks Higher, USD Lower; Bloomberg Reports Bank of Japan Almost Certain to Hike Rates Next Week, Boosting Yen

During the trading session on Wednesday, we saw the US dollar drop fairly significantly against the Japanese yen, pressuring the pair to drop just below the ¥156 level