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USD/JPY Price Forecast: Japanese Yen lags despite several supportive factors
- Japanese Yen comes under pressure despite several supportive factors.
- With rates held at 1.25%, the BoJ reaffirms its hawkish policy stance.
- Joint intervention with the US remains possible, Japan FM Katayama warns.
A 0.17% rise takes the US Dollar (USD) to around 157.77 against the Japanese Yen (JPY) in early European trading. The Japanese currency starts the week lower against its major peers, apart from the antipodean currencies.
Japanese Yen Performance Today
Today's percentage moves in the Japanese Yen (JPY) against the major currencies listed are set out below. Its weakest performance was against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.23% | -0.07% | 0.17% | 0.05% | 0.14% | 0.27% | -0.23% | |
| EUR | 0.23% | 0.16% | 0.37% | 0.27% | 0.37% | 0.50% | 0.03% | |
| GBP | 0.07% | -0.16% | 0.23% | 0.12% | 0.21% | 0.34% | -0.13% | |
| JPY | -0.17% | -0.37% | -0.23% | -0.08% | -0.01% | 0.12% | -0.37% | |
| CAD | -0.05% | -0.27% | -0.12% | 0.08% | 0.10% | 0.21% | -0.25% | |
| AUD | -0.14% | -0.37% | -0.21% | 0.00% | -0.10% | 0.13% | -0.35% | |
| NZD | -0.27% | -0.50% | -0.34% | -0.12% | -0.21% | -0.13% | -0.46% | |
| CHF | 0.23% | -0.03% | 0.13% | 0.37% | 0.25% | 0.35% | 0.46% |
Percentage movements between the major currencies are displayed in the heat map. Select the base currency from the left-hand column and the quote currency from the top row. Selecting the Japanese Yen on the left and following that row across to the US Dollar, for instance, gives the percentage change for JPY (base)/USD (quote) in the corresponding cell.
Despite a sharp pullback in oil prices and other supportive developments, the Asia-Pacific currency remains under selling pressure. Those developments include the Bank of Japan (BoJ) reaffirming its hawkish monetary policy stance in Friday's policy announcement and Tokyo warning of joint intervention with the United States (US).
At the time of writing, WTI Oil is trading near $99.50, down 2.6%. For currencies of economies such as Japan, which rely heavily on energy imports, lower oil prices are favourable.
After interest rates were left unchanged at 1.25% on Friday, BoJ Governor Kazuo Ueda indicated that the central bank would continue along its monetary tightening path. Speaking at the press conference, Ueda said: “BoJ will continue to raise policy rate and adjust degree of monetary easing in response to economic activity, prices and financial condition developments,”
Earlier in the day, Japanese Finance Minister (FM) Satsuki Katayama reiterated that the Joint FX statement with the US remains in force, adding that the government would take action against disorderly moves.
With investors becoming more cautious before Tuesday's US midterm elections, the US Dollar is trading lower overall.
USD/JPY Holds a Sideways Technical Trend
At 157.77 on the daily chart, USD/JPY remains in a broader sideways trend. The 9-day Exponential Moving Average (EMA), around 157.72, has been flat for over a month.
Near the neutral line at 50.81, the Relative Strength Index (RSI) points to balanced momentum within the sideways trend.
The October low of 156.08 provides the principal support on the downside, while the high of 24 September at 159.04 represents the main obstacle to gains.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Data Release
BoJ Sets Interest Rates
Following each of its eight scheduled meetings a year, the Bank of Japan (BoJ) announces its interest rate decision. A rate increase accompanied by a hawkish assessment of the economy's inflation outlook is generally positive for the Japanese Yen (JPY). Conversely, a dovish assessment of the Japanese economy, together with unchanged or lower interest rates, is usually negative for JPY.
Find out more.Latest release: Fri 30 Oct 2026 03:03
Release frequency: Irregular
Actual figure: 1.25%
Consensus forecast: 1.25%
Previous reading: 1.25%
Data source: Bank of Japan
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