Will the Bank of Japan’s consecutive fixed-rate operations affect the USD/JPY exchange rate?

Will the Bank of Japan’s consecutive fixed-rate operations affect the USD/JPY exchange rate?

21.04.2022

In yesterday’s U.S. currency trading, the USD/JPY pair, which had been falling following the announcement of the Bank of Japan’s fifth consecutive day of fixed-rate operations starting today, found support at the 75-period moving average on the hourly chart, stabilizing its downside. The USD/JPY has rebounded by approximately 120 pips during today’s Asian trading session, and we need to carefully assess whether it will re-enter an uptrend from here.

European currencies saw the upward momentum in the euro/dollar pair stall following reports that Mariupol, located in southeastern Ukraine, could fall as early as today. The euro/dollar pair rose from 1.075 to 1.086, but as price action is currently centered around the 200-period simple moving average (SMA) on the hourly chart and searching for direction, we will wait to confirm a breakout in either direction before determining the trend.

Today, during European trading hours, the Turkish Consumer Confidence Index will be released at 16:00 and the Eurozone Consumer Price Index at 18:00. During U.S. trading hours, U.S. Initial Jobless Claims and the U.S. Philadelphia Fed Business Outlook Index will be released at 21:30, followed by remarks from a member of the Bank of England’s Monetary Policy Committee at 22:00.remarks by MPC member Mann, at 11:00 PM the U.S. Leading Economic Index, at 11:00 PM U.S. weekly natural gas inventories, at 1:30 AM remarks by BOE Governor Bailey, at 2:00 AM remarks by ECB President Lagarde, and remarks by Fed Chair Powell. We will closely monitor the extent of the impact from the Bank of Japan’s fixed-rate operations.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?