USD/JPY remained capped today, falling to ¥157.578 before recovering to around ¥158.00, as signals of an October rate hike failed to strengthen in either Japan or the US.
USD/JPY remained capped during today's Asian session against the backdrop of falling share prices. Expectations for consecutive Federal Reserve rate hikes, which had spread after the US CPI release, eased, reducing a factor behind yen weakness, while comments from a BOJ policy board member at times pushed the yen higher. As a result, USD/JPY fell to ¥157.578 before recovering to around ¥158.00 on buybacks.
In the current USD/JPY range, selling interest is observed around ¥158.100–¥158.500, with multiple levels marked as potential resistance. On the downside, ¥157.500, ¥157.600 and ¥157.800 are cited as levels where buying interest is lined up.
The article refers to 外為どっとコム's foreign exchange order information and GFX charts and uses these tools to explore potential market drivers. It explains that the information is based on the levels and volumes shown on the Foreign Exchange Order Information page and encourages the use of the smartphone app.
The article indicates that there are no strong signals of an October rate hike from either Japan or the US, and that the market is expected to remain within its current range.