Dollar-yen reaches new lows; ¥146 in viewUS Dollar/Japanese YenFX:USDJPYMichael_Stark_ExnessUSDJPY reached its lowest since late July early on 17 September as Japanese trade data weren’t as negative as expected and traders were almost certain that the Fed would call for a single cut at its meeting that evening. Although some concern remains about the Japanese economy, particularly with exports having declined for four consecutive months, the shift in recent weeks has been in sentiment on the American economy and particularly the job market. August’s channel between about ¥146.30 and ¥148.80 still seems to be active for now so an immediate move lower might be questionable unless there’s a significant surprise from upcoming Japanese inflation or the BoJ’s meeting. Volatility has been low recently, which is a normal situation over summer, but it might return around the meetings of the central banks coming up in the next few days. The next directional movement seems more likely to be upward within the channel than downward, but this very much depends on how the Fed’s upcoming statement and comments are received. If traders interpret clear signals confirming three consecutive cuts by the Fed for the rest of the year, more short-term losses might be possible instead. This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.