In Tokyo trading on the 23rd, USD/JPY fell in the morning to ¥156.08, but rose back into the ¥157 range in the afternoon as crude oil prices strengthened and US long-term yields held firm.
In Tokyo trading on the 23rd, the risk-averse yen buying that had continued from the previous day pushed the yen higher in the morning, sending USD/JPY down temporarily to ¥156.08.
In the afternoon, firm crude oil prices and the resistance of US long-term yields to further declines prompted dollar buying, lifting USD/JPY to ¥157.16.
The trading ranges so far were ¥156.08 to ¥157.16 for USD/JPY, ¥175.20 to ¥176.21 for EUR/JPY, and $1.1206 to $1.1226 for EUR/USD.
Following today's moves, the foreign exchange market maintained its range between the upper and lower levels.