2025.08.28
[August 28] BOJ's Nakagawa mentions rate hikes, creating slight yen-buying sentiment
This article was :
published
updated
Recap of previous trading day (August 27)
Yesterday the USDJPY hit a high of 148.18 yen around GMT 11:00, but long-term yields declined following comments from the New York Fed President, leading to a low of 147.25 yen around GMT 17:00. Trading for the day closed at 147.36 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY saw the market react with yen buying after BOJ Policy Board member Junko Nakagawa mentioned rate hikes in a speech. As of GMT 05:00, the pair is trading near the 147.0-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on August 28), a break below 147 yen is approaching, though a return to the 148-yen range is also possible. If it breaks below 146.5 yen, it would be reasonable to take a downward outlook.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 12:30 U.S. Real gross domestic product (GDP, revised), Q2
- GMT 12:30 U.S. PCE Price Index, Q2
- GMT 12:30 U.S. Core PCE Price Index, Q2
- GMT 12:30 U.S. Initial jobless claims for the previous week
- GMT 12:30 U.S. Continuing jobless claims for the previous week
Don't miss trade opportunities with a 99.9% execution rate
Was this article helpful?
No
Yes
0 out of 0 people found this article helpful.
Thank you for your feedback.
Send
