USD/JPY - Overview as of 03.12.2024

Financial and commodity markets analytics


The 147.50 - 150.00 range, which we mentioned last week, acted as a support zone for the USD/JPY pair. The yen is moving against the general trend, trading near six-week highs amid growing expectations of an interest rate hike in Japan. Market expectations suggest a roughly 60% probability of a 25 basis point rate hike in December. This week, the dynamics of the instrument is likely to depend on data from the United States. Markets are waiting for information on employment and vacancies in the U.S., as well as comments from Fed Chairman Jerome Powell during his speech on Wednesday.