USD/JPY Retreats as Hawkish BoJ Minutes Support Yen

Key Facts

The USD/JPY pair failed to sustain its recent gains as selling pressure intensified near the 157.40 level. Orbex reported that Bank of Japan meeting minutes revealed hawkish leanings, which supported the Yen against a generally weak US Dollar.

Traders are currently eyeing technical support zones for the pair between 153.90 and 154.40 amid persistent fears of official intervention. These developments follow the Bank of Japan's decision on October 30, 2026, to maintain interest rates at 1.25%, while industrial production grew by 2.2% month-on-month in September 2026 as reported on October 29.

The Bank of Japan is scheduled to release its Summary of Opinions on November 9, 2026. Markets are also awaiting the release of annual Household Spending and Current Account data on the same day, which may provide further signals regarding monetary policy and economic activity.