In the Tokyo market, USD/JPY struggled to extend its gains after briefly moving above ¥157 and has been moving in a narrow range around ¥157.15. EUR/JPY edged down toward ¥180, while cross-yen pairs have remained stalled after rising across the board.
In the afternoon Tokyo market, USD/JPY moved narrowly and struggled to extend its gains after breaking above ¥157. Around 3 p.m., it was moving in a narrow range around ¥157.15.
EUR/JPY edged lower and was trading at ¥180.45. Cross-yen pairs had risen across the board, but subsequently stalled as gains became harder to extend.
The trading ranges so far were ¥155.88–¥157.33 for USD/JPY, ¥178.94–¥180.68 for EUR/JPY, and 1.1473–1.1492 for EUR/USD.
This came after the yen weakened rapidly following the announcement of the results of the Bank of Japan's monetary policy meeting, suggesting that the market is awaiting further developments.