USDJPY: SELL 147.55, SL 147.85, TP 146.50 | 08 August 2025

08 August 2025, USD/JPY

USDJPY: SELL 147.55, SL 147.85, TP 146.50

Event to watch today:

07.08 15:30 EET. USD - Unemployment Claims

USDJPY:

The yen is benefitting from falling Treasury yields and mounting expectations that the Bank of Japan could move to a token rate hike as early as this autumn. Minutes of the 30-31 July meeting revealed that two board members want tightening on the table should inflation stay above 2 %. In parallel, the Finance Ministry has expanded its FX-intervention envelope to ¥20 trn, signalling a readiness to cap USDJPY below 150.

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The U-S dollar stays under pressure: weak labour data increases the odds of a September Fed cut, while a scandal over the dismissal of the Bureau of Labor Statistics head fuels doubts about data integrity. The 10-year U-S yield has slid to 3.95 %, narrowing the spread with JGBs and dulling the dollar’s carry appeal.

A restraining factor is caution within Japan’s ruling coalition, which warns against rapid tightening given the threat of new U-S tariffs. Even so, the overall risk balance still favours yen strength thanks to potential intervention and the likelihood of a BoJ policy pivot, keeping the pair biased lower.

Trade recommendation: SELL 147.55, SL 147.85, TP 146.50

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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
David Johnson
Analyst of «FreshForex» company
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