2025.09.09
[September 9] Yen weakness from Japan's political instability remains limited as markets focus on U.S. rate cuts and turn bearish
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Recap of previous trading day (September 8)
Yesterday the USDJPY opened with an upward gap following weekend news that Prime Minister Ishiba indicated his intention to resign, reaching a high of 148.57 shortly after GMT 00:00, but then moved lower throughout the session, hitting a low of 147.34 around GMT 19:00. Trading for the day closed at 147.44 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY continues yesterday's weakness, currently trading near the 147.0-yen range as of GMT 05:00. Dollar weakness is permeating the market as speculation grows that next week's FOMC meeting could deliver significant rate cuts.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on September 9), the price has declined to the point where it may break below the 147-yen range. The area around 147 yen is approaching the recent range floor, making this a critical battleground where the market will be watching to see whether the price rebounds or continues falling.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, no closely watched economic indicators are scheduled for release.
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