USD/JPY Extends Toward ¥157

Now that we're in a new month, it is time to take a little peek at how the U.S. dollar is faring against the Japanese yen. This should be of particular interest to those planning on taking a vacation trip to Japan this month.

According to Trading News:

USD/JPY Extends Toward ¥157 as Japan’s Finance Minister Warns of “Non-Fundamental” FX Swings and Markets Eye Intervention

The USD/JPY pair traded close to ¥156.70 after Japan’s Finance Minister Satsuki Katayama stated that recent yen volatility “is not moving based on fundamentals.” Speaking on Fuji TV, Katayama emphasized that stability reflecting economic reality is essential, signaling Tokyo’s rising discomfort with the yen’s slide. The remark followed a sharp monthly depreciation that erased earlier gains and positioned the yen near its weakest level since the summer, as traders priced in persistent policy divergence between the Federal Reserve and the Bank of Japan (BoJ).

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Dollar At ¥147

Now that we're in a new month, it is time to take a peek at how the U.S. dollar is faring against the Japanese yen in foreign exchange. This, of course, is especially of interest to those who are planning to take a trip to Japan.

According to Trading News:

The USD/JPY exchange rate has retreated from its recent monthly peak at 146.19, sliding to 147 after testing the 50-Day SMA at 146.34. The currency pair had rallied from a low of 142.36 earlier this month, but momentum has weakened after the Federal Reserve kept policy options open. If the pair fails to hold above the 144.60–145.90 support zone defined by Fibonacci retracement and extension clusters, the downside could accelerate toward the yearly low at 139.89. On the upside, a breakout above 148.70–150.30 remains possible if U.S. data reinforces dollar strength. 

To read more, go here.