Forex Market Outook on USD/JPY

The USD index remains steady today as traders and investors awaited the Federal Reserve’s annual Jackson Hole symposium for direction on interest rates. Markets are focused on Fed Chair Jerome Powell’s speech for signals on whether policymakers may push back against expectations for near-term easing.

Meanwhile the Japanese Yen weakens as uncertainties prevails over the bank of Japan's policy outlook prevails on raising interest rates.

USDJPY remains cautiously bullish in the opening hours of the London session today.

I am holding a long position, while watching to see what happens with the Federal Reserve’s annual Jackson Hole symposium for further directions.