USDJPY: BUY 146.30, SL 145.95, TP 147.00 | 11 July 2025

Event to watch today:

15:30 EET. USD - Initial Jobless Claims

USDJPY:

The USD/JPY pair is consolidating above 146.20 amid ongoing tension in US-Japan trade relations and the announcement of 25% tariffs on Japanese goods from August 1. The rise in the yield of 10-year US Treasuries above 4.45% and the widening spread between US and Japanese bonds support the dollar.

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In Japan, slowing nominal wage growth and declining real incomes complicate the Bank of Japan’s efforts to normalize monetary policy. This leads to the maintenance of an ultra-loose policy and stimulates capital outflows from the yen.

At the time of writing, the USD/JPY rate is 146.25. In the absence of a sharp demand for safe-haven assets, the pair may test the 147.00 level in the coming sessions.

Trade recommendation: BUY 146.30, SL 145.95, TP 147.00

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