Japanese Yen: Holds near multi-year lows against US Dollar – UOB

FXStreet Insights Team FXStreet

United Overseas Bank’s (UOB) Quek Ser Leang sees USD/JPY continuing to consolidate just below the 2024 high of 162.00, with intraday trading expected between 161.45 and 161.95. Despite fading momentum, the bank retains a mildly positive 1–3 week view as long as support at 161.25 holds, and longer-term analysis still allows scope to test the top of a rising wedge.

Risk of break above 162.00 still intact

"24-HOUR VIEW: We indicated last Friday that USD “could trade between 161.45 and 161.95.” USD then traded within a range of 161.51/161.84, closing largely unchanged at 161.73 (-0.03%). The price action provides no fresh clues, and we continue to expect USD to trade between 161.45 and 161.95."

"1-3 WEEKS VIEW: We have held the same view since 19 Jun (spot at 161.25), when we indicated that USD “could rise to the 2024 high of 162.00.” Since then, USD has been consolidating just below 162.00. Upward momentum is fading, but the risk of a break above 162.00 will remain intact as long as 161.25 (‘strong support’ level previously at 161.10) is not breached."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD slides below mid-0.6800s, lowest level since January amid bullish USD

AUD/USD weakens below mid-0.6800s, hitting a 10-month low during the Asian session on Thursday as the possibility of a jumbo Fed rate hike in December helps the US Dollar hold near its highest level since April 2025. Geopolitical uncertainty also supports the safe-haven buck, while the RBA’s cautious, on-hold stance weighs on the Aussie.

USD/JPY: Japanese Yen slides toward 160.00 with Fed speakers and US PPI ahead

The 160.00 level is within reach of USD/JPY for the first time since early September, with Fed speakers and US producer prices still to come before the weekend. USD/JPY has left the range it held for seven weeks and reached just under 160.00, its highest since September 2. It's trading a little below that high, near the top of Wednesday's range.

Gold falls below $4,000 as Fed rate hike bets grow

Gold price tumbles to near $3,985 during the early Asian session on Thursday. The precious metal extends its downside as persistent inflation forces the US Federal Reserve to maintain its tightening policy.

Bitcoin Bull Score falls to 20 as USDT supply shrinks – CryptoQuant

Bitcoin's (BTC) market indicators have turned bearish at the same time, raising concerns that the top crypto could face a deeper correction despite historical similarities to previous market bottoms. In a report published Wednesday, CryptoQuant noted that its Bull Score Index dropped from 90 on October 13 to 20 in less than four weeks, reflecting a sharp deterioration in market conditions.

The Japanese Yen is doing something it hasn't done in ten weeks

USD/JPY climbs above the 159.00 resistance level, extending its advance on Wednesday, and bringing the Japanese Yen back toward its weakest levels in ten weeks amid renewed strength in the US Dollar. The move reflects a sharp repricing of Federal Reserve interest rate expectations following hawkish comments from Fed Governor Christopher Waller and stronger-than-expected US consumer inflation data.

What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.