USD/JPY: The trend is for yen appreciation – MUFG

Matías Salord FXStreet

Analysts at MUFG Bank, continue to see that the main trend in the USD/JPY points to a stronger yen. They see the pair trading between 104.50 and 107.50 next week.

Key Quotes:

“Traders could take a wait-and-see stance ahead of the Kansas City Fed’s economic forum in Jackson Hole, Wyoming, next week. But falling US yields are keeping USD from gaining strength, and yen-buying driven by risk aversion also means big downside risk for USDJPY. USDJPY did dip to 105.05 at one point. Exporters and foreign bond holders (redeeming bonds) will be repatriating funds, and yen-buying flows could lead to USDJPY testing below the 105 level.”

“All eyes at Jackson Hole will be on whether Fed Chair Jerome Powell changes his stance. He had indicated after the July FOMC meeting that an easing phase has not begun, and further rate cuts are not likely. If he takes on a more dovish tone in August, US yields could decline and USD weaken. Headline risks surrounding the US-China trade war will also bear watching. Market liquidity is thin in August, and an unexpected big movement like the ‘Flash Crash’ over the New Year holidays, is a possibility.”

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.

GBP/USD extends decline as weak jobs data bolsters BoE rate cut bets

The Pound Sterling continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.

Gold yearns for acceptance above the $5,000 mark

Gold preserves 2% advance seen on Wednesday as buyers gather pace early Thursday. The US Dollar holds January Fed Minutes-led gains ahead of more US macro data. Gold needs a sustained break above the key $5,000 barrier; daily RSI stays bullish.

Bitcoin approaches a critical zone: Bear pennant projects $56,000

Based on the most recent analyses from February 2026, the short answer is that it is highly unlikely that Bitcoin will reach $100,000 this month.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.