The morning forecast range for USD/JPY is ¥158.300-159.500. Ahead of the speech at the Jackson Hole Economic Symposium, the US Treasury Secretary's expected announcement of sanctions on Italy has emerged as a market focus.
USD/JPY ended slightly lower on the 21st, with buying returning as the 200-day moving average was watched as support. Looking back at the previous day, USD/JPY fell to around ¥158.35 before showing renewed movement.
Today's forecast range for USD/JPY is ¥158.300-159.500, and the market is expected to remain focused on assessing the speech by the chair of the Federal Reserve Board (FRB) at the Jackson Hole Economic Symposium. The 200-day moving average is likely to be watched again as support.