The dollar/yen pair is trading in a narrow range around the upper 159 yen area ahead of the U.S. CPI.

【8/11Market Overview

In Tokyo time, USD/JPY fell to around 158.91 while Japan was on holiday, but buying on dips was strong and the pair recovered to around 159. 158.91yen level.159In European time, USD/JPY rose to around 159.38, but after the Pakistani government indicated that talks with the United States and Iran were progressing toward a deal, crude oil futures fell and U.S. Treasury yields declined, pushing it lower to around159.38yen to159.05yen.NYTime, USD/JPY was8/12 ahead of the release of7th monthCPI(Consumer Price Index) as markets waited,159yen in the lower 159s with little movement.

【8/12Market View