JPY Remains Range-Bound: Overview for January 29, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPY_3-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="USD/JPY analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair is showing little movement, staying within a narrow trading range.</p>

<p>The Japanese yen, when paired with the US dollar, is firmly stuck in a sideways trend. The current USD/JPY exchange rate is at 148.07.</p>

<p>Given the yen's usual <a href="https://blog.roboforex.com/blog/2020/08/20/what-is-volatility-and-how-to-use-it-on-forex/" data-internallinksmanager029f6b8e52c="150" title="Volatility">volatility</a>, this current state of stability is unexpected.</p>

<p>The currency market is experiencing a period of consolidation, with the US dollar holding steady ahead of the upcoming Federal Reserve meeting. The meeting, beginning on Tuesday and concluding on Wednesday with an <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> decision, will significantly influence market sentiment for the coming weeks.</p>

<p>In January, core <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> in Tokyo, a leading indicator for the official Consumer Price Index (<a href="https://blog.roboforex.com/blog/2021/08/25/what-is-consumer-price-index-and-how-to-use-it-in-forex/" data-internallinksmanager029f6b8e52c="197" title="CPI">CPI</a>), dropped to 1.6% year-on-year, compared to 2.1% the previous month, a more significant decline than anticipated.</p>

<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/29/jpy-remains-range-bound-overview-for-january-29-2024/">JPY Remains Range-Bound: Overview for January 29, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>