Market Fundamental Analysis for July 24, 2026 USDJPY
USDJPY:
USDJPY is trading near 163.80 after the yen fell to an almost 40-year low. Japan’s finance minister said the authorities were ready to act decisively, while the US Treasury warned against excessive volatility and called for further steps from the Bank of Japan.
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The dollar remains supported by US Treasury yields above 4.7%, more restrictive Federal Reserve expectations, and a wide interest rate differential. However, the risk of intervention is increasing at current levels and may limit further USDJPY gains.
A stronger official response could trigger a rapid yen recovery. Therefore, the baseline scenario favors a decline in USDJPY.
Trading idea: SELL 163.80, SL 164.15, TP 162.95
