Fundamental Market Analysis for August 28, 2025 USDJPYUS Dollar/Japanese YenSAXO:USDJPYFresh-Forexcast2004The yen remains under pressure due to the persistent yield differential between the US and Japan and the Bank of Japan’s cautious approach to policy normalization. The lack of readiness to tighten quickly supports carry dynamics and keeps USD/JPY near the top of its recent range whenever the dollar is stable. In the US, expectations for a rate cut this autumn coexist with still-meaningful Treasury yields, limiting near-term JPY strength. Flows into dollar assets under a steady risk backdrop add support, while Japanese data (including Tokyo CPI later this week) could only briefly temper dollar demand unless it surprises decisively. Our base case is for an orderly push toward 148.000+ provided the news backdrop remains calm and there are no signs of imminent intervention by Japanese authorities. Risk factors include a sharp drop in US yields or renewed “verbal intervention” from Japan’s Ministry of Finance. Trading recommendation: BUY 147.150, SL 146.650, TP 148.150