Japan’s next inflation figures are due before the Bank of Japan meets Oct. 29-30, with the dollar near ¥158.25 against the yen on Oct. 19, FXStreet reported.
The European Central Bank’s Oct. 19 reference rates offer a separate measure. Its values of $1.1225 and ¥177.63 per euro imply a calculated rate of about ¥158.25 per dollar. The equivalent calculation for Oct. 16 gives about ¥158.02, a 0.14% increase between reference dates. Those figures are derived from euro reference rates; they are separate from FXStreet’s direct dollar-yen market quote.
In its chart analysis, FXStreet placed the 20-day exponential moving average at ¥157.87 and interpreted that level as support. It identified ¥159 and ¥160 as levels above the market. Its possible ¥156 downside level depends on a break in a broader chart pattern. Those are conditional readings from the outlet’s analysis.
The Bank of Japan voted 7-2 on Sept. 18 to set its overnight call-rate target at around 1.25%, effective Sept. 24. It assessed underlying consumer inflation as moving toward its 2% target and said economic, price and financial conditions would guide the timing and pace of further rate increases.
The bank’s price outlook cited wage increases, high crude oil prices, yen depreciation and global demand related to artificial intelligence. It said a weaker yen could add to some goods prices, while higher oil prices could weigh on economic activity.
The Statistics Bureau of Japan said its nationwide consumer price index excluding fresh food rose 1.7% from a year earlier in August.
The September consumer inflation figures are scheduled for Oct. 22 at 7:30 p.m. ET (8:30 a.m. Japan Standard Time on Oct. 23). The Bank of Japan is scheduled to release its next policy statement and economic outlook Oct. 30, after its Oct. 29-30 meeting.
