This Week's Market Strategy - June 17, 2025 (Tue)
USD/JPY declined to 143.65 yen as geopolitical risks in the Middle East intensified.
Subsequently, the 20-year government bond auction was underwhelming, and with the rise in long-term interest rates, the pair advanced to 144.88 yen. The Bank of Japan's monetary policy decision results are scheduled to be announced today, and we should focus on the outlook for future long-term interest rates.
The consensus is for the policy rate to remain unchanged at 0.5%.
The US economic indicators to watch today are May retail sales (forecast: MoM -0.7% / excluding automobiles MoM +0.1%). We should also pay attention to further developments regarding the Middle East situation.
Technically, the downside target is set at today's low of 143.58 yen, while the upside target is expected to focus on the key level of 145.00 yen.
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