USD/JPY is expected to trade around ¥158 from tonight through tomorrow, with a projected range of ¥157.50–¥158.50. Views are spreading that long-term Treasury yields will decline following the US midterm election results, and the weaker-dollar, stronger-yen trend is expected to intensify.
USD/JPY in the foreign exchange market is expected to continue trading around the ¥158 mark from tonight through tomorrow, with the projected range given as ¥157.50 to ¥158.50.
Following the Democratic victory in the US midterm elections, expectations have grown that the Trump administration's expanded spending will be curbed, and US long-term Treasury yields have been seen moving lower.
This is reportedly strengthening the weaker-dollar, stronger-yen trend, and there is also speculation that buying on dips in the dollar is coming into the market around the upper ¥157 range.
Market participants continue to monitor US economic indicators and political developments, and reports indicate that market participants will continue to seek direction in the foreign exchange market.