Fundamental Market Analysis for November 19, 2025 USDJPYUS Dollar/Japanese YenSAXO:USDJPYFresh-Forexcast2004Event to watch today: 21:00 EET. USD - FOMC Meeting Minutes USDJPY: Risk-off conditions have revived interest in the yen: amid equity weakness and uncertainty around the timing of U.S. data releases, market participants are trimming dollar long positions versus JPY. Japan-related signals add to the picture: the long end of the JGB curve is edging higher, bringing attention to inflation persistence and authorities’ readiness to react to excessive FX volatility. Cautious remarks from the finance ministry keep markets from setting fresh USD/JPY highs. If headlines maintain a wary tone and expectations for a December Fed rate cut persist, the pair can retreat below 155 on safe-haven demand and the threat of verbal intervention. Trade recommendation: SELL 155.500, SL 156.500, TP 154.500