USD/JPY Weekly Outlook: Fed, BOJ and Hormuz risks put 165 in focus
Source: Forexcom - https://www.forex.com/en-us/news-and-analysis/usd-jpy-weekly-outlook-fed-boj-and-hormuz-risks-put-165-in-focus/
Published: Jul 24, 2026 10:10 PM
The bullish breakout flagged in last week's outlook played out exactly as anticipated, sending USD/JPY to fresh multi-decade highs. Whether the rally can extend further will likely be determined by a packed week headlined by policy decisions from the Federal Reserve and Bank of Japan, alongside key inflation, growth and labour market data from both economies.
Market context: This update is relevant to USD traders, with USDJPY as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.
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