USD/JPY inches higher to 153.70 amid a firmer US Dollar

USD/JPY could receive pressure due to revived expectations for the Fed’s interest rate cuts in 2024.
US Nonfarm Payrolls reported fresh 175K jobs were added in April, lower than the estimated 243K.
Japanese markets are closed on Monday due to a national holiday, with the possibility of intervention by authorities still present.

Akhtar Faruqui FXStreet

USD/JPY snaps its three-day losing streak on Monday, trading around 153.70 during the early European hours. This decline in the USD/JPY pair could be attributed to the rebound in the US Dollar (USD).

The US Dollar Index (DXY), which gauges the performance of the US Dollar (USD) against six major currencies, hovers around 105.10, by the press time. The lower US Treasury yields could limit the advance of the Greenback.

However, the US Dollar struggled due to softer-than-expected US jobs data released on Friday. This development revived expectations for potential interest rate cuts by the US Federal Reserve (Fed) later this year. The prevalent risk appetite may continue this week following Fed Chair Jerome Powell's relatively dovish stance on the monetary policy outlook during Wednesday's session.

Federal Reserve Bank of Chicago President Austan Goolsbee, speaking to Bloomberg TV on Friday, characterized the April labor market data as robust. Goolsbee stressed the importance of the Fed to evaluate its commitment to reducing inflation. He highlighted that if the Fed persists with a restrictive stance for an extended period, it will have to consider the employment aspect of its mandate.

In Japan, markets are closed on Monday due to a national holiday, with intervention risks lingering. Last week, the Japanese Yen (JPY) appreciated amidst potential government intervention by Japanese authorities. Reuters reported that data from the Bank of Japan (BoJ) indicated that Japanese authorities may have allocated approximately ¥6.0 trillion on April 29 and ¥3.66 trillion on May 1 to reinforce the JPY.

USD/JPY

Overview
Today last price	153.72
Today Daily Change	0.68
Today Daily Change %	0.44
Today daily open	153.04

Trends
Daily SMA20	154.52
Daily SMA50	151.93
Daily SMA100	149.21
Daily SMA200	148.42

Levels
Previous Daily High	153.78
Previous Daily Low	151.86
Previous Weekly High	160.32
Previous Weekly Low	151.86
Previous Monthly High	160.32
Previous Monthly Low	150.81
Daily Fibonacci 38.2%	152.59
Daily Fibonacci 61.8%	153.05
Daily Pivot Point S1	152
Daily Pivot Point S2	150.97
Daily Pivot Point S3	150.08
Daily Pivot Point R1	153.93
Daily Pivot Point R2	154.81
Daily Pivot Point R3	155.85

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

GBP/USD stays below 1.3400 after soft UK CPI data

GBP/USD struggles to gain traction and stays below 1.3400 in the second half of the day on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, making it difficult for the British Pound gather recovery momentum. Meanwhile, investors keep a close eye on headlines coming out of the Middle East.

EUR/USD stabilizes near 1.1400 as markets focus on geopolitics

EUR/USD trades in a narrow channel at around 1.1400 on Wednesday. In the absence of high-impact data releases, escalating geopolitical tensions in the Middle East caps the pair's upside. On Thursday, the European Central Bank (ECB) will announce monetary policy decisions.

Gold holds comfortably above $4,100, remains close to two-week high

Gold steadies above $4,100 during the Asian session on Thursday, stalling the previous day's modest pullback from over a two-week high amid a soft US Dollar. However, the recent spike in oil prices, bolstered by escalating US-Iran tensions, continues to fuel inflationary concerns and lift bets for a Fed rate hike in 2026. This remains supportive of elevated US Treasury bond yields, which favors USD bulls and could act as a headwind for the non-yielding bullion.

Australia unemployment rate set to steady at 4.4% in June, signaling strong job market

Australia will publish the June monthly employment report on Thursday at 01:30 GMT, and market participants expect a modest increase in job creation in the land Down Under. The Australian Bureau of Statistics is expected to announce that the country added 15K new jobs in the month, while the Unemployment Rate is forecast at 4.4%, unchanged from May.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.