Ahead of a 3-day holiday in Japan and the U.S., USD/JPY is expected to trade in a ¥157.200–¥158.600 range this morning. The previous day's moves and next week's key economic indicators will be the market's focus.
USD/JPY is forecast to trade in a ¥157.200–¥158.600 range this morning, with limited scope for active moves expected ahead of holidays in Japan and the U.S.
USD/JPY fell approximately 0.1% in the previous day's trading. Moves ahead of the U.S. midterm elections and reports of military operations involving Iran were cited as factors. Oil futures and long-term interest rates also influenced the market, limiting the rise in the dollar.
Market attention is likely to focus on the U.S. September Consumer Price Index (CPI) due next Tuesday, the 14th. The market is expected to show only a limited reaction to the Federal Reserve's rate outlook and other indicators. Trading appetite is expected to remain subdued ahead of the 3-day holiday this weekend.
The full report is published in the Gaika dot Com report. See the linked page for details.