{"id":34394,"date":"2025-11-10T10:58:13","date_gmt":"2025-11-10T02:58:13","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=34394"},"modified":"2025-11-10T10:58:13","modified_gmt":"2025-11-10T02:58:13","slug":"yen-slides-as-stimulus-bets-grow","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/analysis\/yen-slides-as-stimulus-bets-grow\/","title":{"rendered":"Yen Slides as Stimulus Bets Grow"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/yen10-1024x559.png\" alt=\"\" class=\"wp-image-17048\" \/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USDJPY rose 0.3% to <strong>153.87<\/strong>, hovering near a nine-month low of <strong>154.00<\/strong>.<\/li>\n\n\n\n<li>Japan\u2019s proposed stimulus plan, due <strong>21 November<\/strong>, includes <strong>tax cuts and investment incentives<\/strong> for <strong>17 key industries<\/strong>.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>The yen continued to lose ground on Monday, falling toward the <strong>154<\/strong> handle as markets anticipated a sizeable fiscal package under Japan\u2019s new administration. The pair traded around <strong>153.87<\/strong>, up <strong>0.30%<\/strong> intraday, approaching levels last seen earlier this year.<\/p>\n\n\n\n<p>A draft of the economic plan revealed that Prime Minister <strong>Sanae Takaichi\u2019s<\/strong> government aims to push the central bank to maintain an accommodative policy while fostering strong growth.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Japan PM Takaichi signals work on new fiscal target <a href=\"https:\/\/t.co\/Axvf8QNVq8\">https:\/\/t.co\/Axvf8QNVq8<\/a> <a href=\"https:\/\/t.co\/Axvf8QNVq8\">https:\/\/t.co\/Axvf8QNVq8<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1987694269377687821?ref_src=twsrc%5Etfw\">November 10, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The package, expected to be finalised on <strong>21 November<\/strong>, reportedly features tax cuts and investment incentives for sectors spanning semiconductors, clean energy, and defence.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">BOJ Outlook Remains Clouded<\/h2>\n\n\n\n<p>The Bank of Japan\u2019s <strong>October Summary of Opinions<\/strong> underscored the need for sustained wage growth before considering a rate hike. Policymakers reiterated that premature tightening could undermine fragile recovery momentum.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">A record of policy discussions from the Bank of Japan\u2019s latest board meeting signaled that the next interest rate increase could come as soon as December, matching the expectations of many market participants <a href=\"https:\/\/t.co\/LI9ZxrCGnV\">https:\/\/t.co\/LI9ZxrCGnV<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1987685697692508265?ref_src=twsrc%5Etfw\">November 10, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Market participants remain split on timing, with some expecting a possible rate move in <strong>December<\/strong>, though the probability remains low given the <a href=\"https:\/\/t.co\/odH1WJHPge\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">government\u2019s pro-growth stance<\/a> and persistent global uncertainty.<\/p>\n\n\n\n<p>The widening yield gap between Japan and the United States continues to favour dollar strength. Benchmark <a href=\"https:\/\/www.vtmarkets.com\/cfd-bonds\/\" target=\"_blank\" rel=\"noopener\" title=\"\">U.S. 10-year Treasury yields<\/a> remain near 4.5%, further pressuring the yen.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>USD\/JPY edged higher toward <strong>\u00a5153.87<\/strong>, extending its rebound as buyers defended support near <strong>\u00a5152.80<\/strong>. On the 15-minute chart, the pair is consolidating below \u00a5154.00, with moving averages aligned in a bullish configuration and the MACD showing positive divergence.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/image-8-1024x445.jpg\" alt=\"\" class=\"wp-image-34395\" \/><\/figure>\n\n\n\n<p>This short-term structure suggests the uptrend remains intact, though momentum has begun to flatten slightly, signalling potential caution ahead of key policy cues.<\/p>\n\n\n\n<p>Fundamentally, the yen remains weighed down by the <strong>Bank of Japan\u2019s persistently dovish stance<\/strong> and widening yield gap with the United States.<\/p>\n\n\n\n<p>Finance Minister Suzuki\u2019s recent remarks that authorities are <a href=\"https:\/\/t.co\/VUuuFe4pm3\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u201cmonitoring FX moves with high urgency\u201d<\/a> have kept traders on alert for possible intervention, but so far, verbal warnings alone have done little to stem yen weakness.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Forecast<\/h2>\n\n\n\n<p>If fiscal stimulus details prove expansive and the BOJ maintains its dovish tone, USDJPY could remain buoyant above <strong>153.50<\/strong>, potentially testing <strong>154.50<\/strong> in the near term.<\/p>\n\n\n\n<p>However, any hints of an earlier-than-expected rate adjustment or stronger wage data could trigger a short-term correction back toward <strong>152.80\u2013153.00<\/strong>.<\/p>\n\n\n\n<p>Traders should monitor upcoming <strong><a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.MKTP.CD?locations=JP\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">Japanese GDP figures<\/a><\/strong> and official comments ahead of the <strong>21 November<\/strong> policy outline for fresh directional cues.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Create your live VT Markets account<\/a> and <a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*5vyjdn*_gcl_au*Njc1MzM0NjY0LjE3NTEzNTM4MTc.*_ga*MjA5ODA0NDIzNC4xNzI3OTE1ODQ1*_ga_J26NL1ZVX7*czE3NTE4NzkxMDYkbzMwOCRnMSR0MTc1MTg3OTExOCRqNDgkbDAkaDA.*_ga_6XQ8153GYW*czE3NTE4NzkxMDgkbzU3JGcxJHQxNzUxODc5MTE4JGo1MCRsMCRoMA..*_ga_BG6LYEHPX1*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMTgkajUwJGwwJGgw*_ga_J8BRGZSREX*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_7CG6454YR5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_69Z54R4H9N*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_CY2VCKFC3C*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_TXZ07R2C21*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_17TMGY9BBE*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_MWDVVSEVL5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_2QCC3S2748*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_E7D2PCX624*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_XJ4037XKK6*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_EJCVQDC7VT*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjYkajQyJGwwJGgw\" target=\"_blank\" rel=\"noopener\" title=\"\">start trading<\/a> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese yen edged toward nine-month lows as traders priced in fiscal stimulus from Prime Minister Sanae Takaichi\u2019s administration. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":17048,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[10,45],"class_list":["post-34394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-forex","tag-yen"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/34394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/comments?post=34394"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/34394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media\/17048"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media?parent=34394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/categories?post=34394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/tags?post=34394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}