USD/JPY is holding in the 157 range in the Tokyo market, with signs that dollar selling is easing. The ranges so far are USD/JPY 156.57-157.11, EUR/JPY 179.85-180.37 and EUR/USD 1.1477-1.1485. Crude oil prices and U.S. long-term yields have resisted further declines, and the movements of European participants will be watched closely.
In the Tokyo market on the afternoon of the 21st, USD/JPY is holding in the 157 range, showing notable resilience. Crude oil prices and U.S. long-term yields have resisted further declines, and dollar selling appears to be easing. Yen-buying pressure is expected to persist against the backdrop of reports of a Bank of Japan rate check. The trading ranges so far have been USD/JPY 156.57-157.11, EUR/JPY 179.85-180.37 and EUR/USD 1.1477-1.1485.
The market is expected to focus on the entry of European participants, while attention will be paid to whether the dollar's downside support holds. Yen-buying pressure stemming from reports of a Bank of Japan rate check may persist, although the current view is that dollar selling has eased. In terms of the current market tone, the range of short-term price movements may remain limited.