USDJPY Insight

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Key Points
- U.S. President Donald Trump announced multiple executive orders during his inauguration, including declaring a national energy and border emergency, repealing mandatory electric vehicle adoption, and withdrawing from the Paris Climate Agreement. However, he postponed imposing tariffs on his first day, instead instructing the investigation of trade relations.
- The market predicts potential price corrections depending on the progression of Trump’s tariff policies.
- The Bank of Japan is expected to raise interest rates by 25 basis points at its rate decision meeting scheduled for January 23–24.

This Week’s Key Economic Event
+ January 24: Bank of Japan Rate Decision

USDJPY Chart Analysis
In the recent decline, the pair broke through the support level and dropped to the 154.500 range. It is currently positioned at the lower end of the uptrend, suggesting a potential rebound. However, U.S. President Trump remains a significant factor that could impact the market, so the possibility of a trend reversal should not be ruled out.

If the 154.500 range holds as a support, the pair could rise to the 162 range. Conversely, if it breaks below the 154.500 level, the next target could be the 149.000 range.