USD/JPY bearish outlook.

Published 23/09/2026, 17:36:21 UTC · Original direction and reference price preserved.

23 Sept 2026 / Daily FX signal

USD/JPY

Bearish bias ↘Awaiting data

USD/JPY has risen 1.85% over five days and 0.47% on 23 September to 157.92, pushing above both its five-day average of 157.19 and twenty-day average of 156.59. The pair remains 0.72% below its twenty-day starting level, suggesting this recent dollar strength may be retracing within a broader weakening trend that saw the rate fall from near 160 in late August to below 154 by mid-September. If this recovery stalls near current levels, the yen could regain ground.

Reference price · 23 Sept 2026157.918

Assessment date24 Sept 2026

View published17:36 UTC

The reference-rate context20-observation change -0.725%

26 Aug 202623 Sept 2026

What could change the view. The FOMC met on 15-16 September and any hawkish surprise in the unpublished statement details could extend dollar strength. A sustained break above 158 would weaken the bearish case.

Daily research · reference rates, not executable quotes

Sources & assessment.

The view was generated with Workers AI and checked against these sources. Cross-rates, percentage changes and averages are calculated by fx.reviews from ECB observations. The underlying reference data is freely available.

ECB reference rates via Frankfurter · 23 Sept 2026
Federal Reserve: Federal Reserve issues FOMC statement · 16 Sept 2026
Federal Reserve: Federal Reserve Board and Federal Open Market Committee release economic projections from the September 15-16 FOMC meeting · 16 Sept 2026

Assessment: the ECB reference observation on 24 Sept 2026. A move within ±0.01% is flat. A missing observation stays unverified rather than being replaced by a later price.

Daily reference rates are published for information, not transaction purposes. This educational directional view is not personalised investment advice, a live dealing quote or an order to trade. Costs, spreads and execution are not included in the outcome.

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