USD/JPY rose to around ¥155, but gains were capped ahead of the first day of the FOMC meeting. Market attention is focused today on crude oil prices and movements in long-term US Treasury yields.
In 外為どっとコム’s video commentary reviewing the previous day and outlining today’s outlook, USD/JPY is described as having temporarily risen to around ¥155.00 before gains were capped by movements in crude oil prices and long-term US Treasury yields. Investors appear uncertain about the direction of the market ahead of the first day of the FOMC meeting.
The key factors to watch today are movements in crude oil prices, long-term US Treasury yields and the FOMC decision schedule. These factors could influence USD/JPY’s short-term direction, while the area around ¥155 is still viewed as acting as a resistance zone.
The English summary expects USD/JPY to lack a clear direction ahead of the FOMC announcement and indicates that the area around ¥155.00 is likely to act as a ceiling. It also explains that the ¥153 range is gradually beginning to function as a support zone.
The market information summary identifies movements in crude oil prices, long-term US Treasury yields and the FOMC as important factors, and also provides guidance on the economic indicators calendar.