With the Tokyo market closed and few market cues available, USD/JPY continued to trade around the mid-¥156 range as the market focused on the BOJ's next move. Although reports left yen-buying pressure unchanged, the dollar was also seen attracting buying on its perceived cheapness.
In the Tokyo market on the morning of the 21st, USD/JPY moved narrowly, continuing to trade around the ¥156.80 level. With the Tokyo market closed, there were few trading cues, and aggressive buying and selling was being avoided. While reports of a BOJ rate check sustained yen-buying pressure, the dollar was also seen attracting some buying.
The trading ranges through today were ¥156.57 to ¥157.11 for USD/JPY, ¥179.85 to ¥180.37 for EUR/JPY, and 1.1477 to 1.1485 for EUR/USD.
The thin trading conditions are believed to be partly attributable to the Tokyo market holiday, while the lack of trading cues has led to caution. The market's reaction to BOJ-related news has been limited, and short-term moves have been reported to be subdued.
Several other articles reporting on Tokyo FX have been cited as related news, with each continuing to track USD/JPY movements. The market's next developments are expected to depend on trading conditions after the holiday.