Is USDJPY a Buy, Sell or Hold?
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USDJPY Exchange Rate
Provider: USDJPY
Verdict: USDJPY is the ticker symbol for the exchange rate between the Japanese Yen against the US Dollar. Specifically, it measures how many Yen convert into one US Dollar. The Japanese Yen is one of the most traded FX currencies globally. According to the latest Bank of International Settlements (BIS) Triennial Global FX Turnover Survey, the Japanese Yen is the third most traded currency in the world after the USD and EUR.
Why buy USD over JPY:
Post-pandemic Japan oversaw an uneven economic recovery trend. In late 2023, the country’s GDP contracted more than expected. However, the biggest factor dragging the Yen is the ultra-loose BoJ monetary policy. This kept USDJPY above 130 in 2023. Only when the BoJ decides to ditch the negative policy rate (currently at -0.1 percent!) may the Yen strengthen. For now, the monetary trend is running against the Yen.
Pros
- Accommodative JPY monetary policies
- USD rates are substantially higher
- Weak JPY trade balance
Cons
- JPY oversold; weakness affirmed major support (150)
- Fed may hold off tightening further
- BoJ could end its negative policy rate (and YCC) soon
- Outlook (4)
Overall
4USDJPY Analysis & Guides
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