The morning USD/JPY outlook calls for a sharp drop into the ¥158 range. The forecast range is 158.000-159.600 yen, with U.S. and Japanese monetary policy in focus.
In today’s morning USD/JPY outlook, the pair is expected to plunge into the ¥158 range, with the forecast range set at 158.000-159.600 yen. The report was written by Takuya Kanda (神田卓也), a senior FX analyst at 外為どっとコム総合研究所.
USD/JPY trading the previous day saw the dollar weaken and the yen strengthen, with the pair closing at around ¥158.72. Comments by BOJ Policy Board member Takata (高田) prompted renewed focus on a sharp drop from the low ¥160s, and the pair briefly slipped into the ¥158 range. Dollar selling and yen buying strengthened again during the New York session.
The market outlook for a September Fed rate hike has been moving in line with current pricing, and conditions may change depending on tomorrow’s U.S. August jobs report. Against the backdrop of U.S.-Japan monetary policy developments, USD/JPY is expected to trade relatively firmly today despite some instability.
Readers are directed to check the full article in the “外為どっとコムレポート,” followed by information on the latest USD/JPY market developments and related materials.