USD/JPY rose 0.54% on September 15, with the price at $155.167 as of 04:10 (ET). The move was driven by a rebound in the US dollar and rising long-term US Treasury yields, while the yen faced headwinds as markets reassessed the Bank of Japan’s rate-hike path.
USD/JPY was up 0.54% as of 04:10 (ET), with the current price at $155.167. It has risen approximately 0.79% over the past 7 days. Market participants believe the move was mainly supported by a rebound in the US dollar and rising long-term US Treasury yields.
In Japan, meanwhile, markets reassessed expectations for the Bank of Japan’s rate-hike path, creating headwinds for the yen. Concerns are growing that yen depreciation could intensify amid hawkish comments on the Bank of Japan and position unwinding.
From a macro perspective, the interest-rate differential between US and Japanese government bonds continues to support the US dollar. At the same time, ahead of the Bank of Japan’s upcoming policy announcement, markets are paying closer attention to its forward guidance. Technically, MACD and Williams %R are signaling selling pressure. The outcomes of the FOMC and Bank of Japan policy meetings are expected to influence activity in USD/JPY going forward.