- The USD/JPY is trading steady above 147.50 after a quick dip into 147.15.
- The US Dollar is churning sideways ahead of the Fed's latest Meeting Minutes release.
- Greenback is paring away Tuesday's early declines.
The USD/JPY is pushing back into the 148.00 bid neighborhood after slipping to an intraday low of 147.15, declining from the day's opening bids near 148.40.
Market focus is tilting towards the Federal Reserve (Fed) and their latest Meeting Minutes, due at the end of the US trading session at 14:00 EST. A hawkish Fed could send jitters through the markets after last week's inflation figures pre-cooked rate cut expectations into investors' minds.
A lack of suitably dovish language from the Fed could throw markets for a loop.
US Home Sales will also complicate factors for investors as market participants lean consistently heavier into the "soft landing" narrative. US Existing Home Sales Change declined by 4.1% in October, accelerating towards the downside from last month's -2.2%, which was also revised downwards from 2.0%.
October's Existing Home Sales hit 3.7M, dipping past the forecast 3.9M forecast and shedding volume from September's 3.96M. The figure represents the lowest amount of already-built homes changing hands since 2010.
Japanese Yen price today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Euro.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.18% | -0.21% | -0.24% | -0.07% | -0.32% | -0.37% | -0.17% | |
| EUR | -0.17% | -0.37% | -0.40% | -0.27% | -0.50% | -0.55% | -0.34% | |
| GBP | 0.21% | 0.39% | -0.03% | 0.12% | -0.11% | -0.16% | 0.04% | |
| CAD | 0.24% | 0.42% | 0.03% | 0.15% | -0.10% | -0.13% | 0.06% | |
| AUD | 0.08% | 0.28% | -0.11% | -0.14% | -0.23% | -0.28% | -0.05% | |
| JPY | 0.31% | 0.50% | 0.11% | 0.09% | 0.21% | -0.09% | 0.14% | |
| NZD | 0.37% | 0.55% | 0.17% | 0.13% | 0.28% | 0.04% | 0.20% | |
| CHF | 0.16% | 0.35% | -0.04% | -0.07% | 0.08% | -0.15% | -0.20% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
USD/JPY Technical Outlook
The USD/JPY has seen steady declines from last week's highs near 151.91, closing bearish for four of the last five trading sessions, and is set to close for a fourth straight red candle if Tuesday closes below 148.33.
This week's decline sees the pair trading to the south side of the 50-day Simple Moving Average (SMA) near 149.50, and long-term technical support will be waiting to meet bears at the 200-day SMA near 141.50.
USD/JPY Hourly Chart
USD/JPY Daily Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD keeps range below 1.0900 ahead of US Retail Sales data
EUR/USD is keeping its range below 1.0900 in the European session on Monday. The US Dollar steadies as traders exercise caution before US Retail Sales data due later in the day. Meanwhile, the Euro stays defensive ahead of Tuesday's German vote on fiscal reforms and US-Russia talks.
GBP/USD retakes 1.2950, with Fed-BoE meetings on tap
GBP/USD retakes 1.2950 in European trading on Monday. The pair advances amid a subdued US Dollar. The risk mood stays cautious amid looming concerns over a trade war and Middle East conflict, capping the pair's upside. The focus shifts to the US Retail Sales data ahead of this week's BoE and Fed event risks.
Gold price holds gains just below $3,000, US data eyed
Gold price holds gains below $3,000 in the European session on Monday, staying close to all-time peak as rising trade tensions underpin safe-haven demand. Bets that the Fed will cut rates several times in 2025 lend additional support to the XAU/USD.
Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme Premium
Central bank bonanza – perhaps its is not as exciting as comments from the White House, but central banks still have sway. They have a chance to share insights about the impact of tariffs, especially when they come from the world's most powerful central bank, the Federal Reserve.
Top Formula 1 crypto sponsors rally, racing fans gain from Binance Coin, OKB, ApeCoin and Crypto.com
The 2025 Formula 1 season kicked off in Australia last week with a lineup of crypto sponsors for half of the teams. Racing giants are powered by sponsors like crypto exchanges Binance, OKX, ApeCoin, and Crypto.com, among other NFT and trading platforms. Binance Coin, OKX, ApeCoin, Crypto.com, and Alchemy Pay’s tokens rallied as crypto sponsors made their mark in the racing event.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.