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2025-07-30 13:22:23
USD/JPY fluctuates lower, with market focus on US and Japanese central bank policy developments. 1. During Wednesday's Asian trading session, the USD/JPY exchange rate retreated from an early morning high of 148.51 to 147.85, entering the 147.76-148.30 cloud range. Market analysts believe this adjustment is primarily due to shifts in investor positioning, with $1.9 billion worth of options expiring in the 147.50-75 range providing short-term support. 2. The Federal Reserve is widely expected to maintain interest rates at tonight's meeting, but remains cautious about whether to cut rates in the fall. Meanwhile, the Bank of Japan may raise its inflation and economic growth forecasts, with Tokyo traders predicting a possible rate hike in September or October. The yield gap between US and Japanese government bonds remains stable, and investors are closely monitoring the impact of the Fed's decision on the market. 3. The current exchange rate faces multiple technical supports: the 100-hour moving average is at 147.73, and the 200-hour moving average is at 147.63. Market participants suggest that USD/JPY is likely to remain range-bound until the policy outlooks of the two central banks become clearer.
