The USD/JPY rate tracks the price of the US dollar, the base currency, against the Japanese yen, the counter currency. It is one of the major FX currencies. Monetary policy announcements of both the US Federal Reserve and the Bank of Japan will have an influence on this currency pair as well as the respective country's interest rates.
The Federal Reserve keeps rates unchanged at 4.25% - 4.5%, signaling an extended pause. Powell reassures markets, while economic data remains key for future decisions. Read the full analysis.