USD/JPY fell further in Tokyo trading on the morning of the 23rd, with risk-off yen buying prevailing. The pair fell as low as ¥156.10, while EUR/JPY also declined, with the two pairs trading in ranges of ¥156.10 to ¥156.81 and ¥175.20 to ¥175.90, respectively.
USD/JPY traded in a range of ¥156.10 to ¥156.81 in Tokyo trading, while EUR/JPY traded between ¥175.20 and ¥175.90. EUR/USD moved between $1.1211 and $1.1225.
Risk-off yen buying amid the global stock market decline was behind the moves, and the dollar's downside was contained as yen buying intensified. Lower U.S. long-term interest rates on the previous day also weighed on the dollar's upside.
Trading was centered on the current ranges and price movements, with further volatility expected depending on developments in the Korean, European and U.S. markets. Attention is focused on trading developments ahead.