Anna 
The Japanese Yen (JPY) continues its decline against the US Dollar (USD) for the second consecutive day on Tuesday, hovering near a multi-decade low as the European session approaches. The cautious stance of the Bank of Japan (BoJ) and uncertainty surrounding further policy tightening are significant factors contributing to the ongoing weakness of the JPY. Additionally, continued strength in the USD aids the USD/JPY pair, attracting dip-buying near the mid-151.00s.
While the downside for the JPY remains constrained following recent statements from Japanese authorities, which aimed to temper excessive weakening, a generally subdued sentiment in equity markets provides some support to the safe-haven JPY. This dynamic may curtail significant upward movement in the USD/JPY pair.
Market participants are now turning their attention to the US economic calendar, particularly the release of JOLTS Job Openings and Factory Orders data, as well as speeches by influential members of the Federal Open Market Committee (FOMC). These events are anticipated to provide fresh direction and momentum to the currency markets, including the USD/JPY pair. Traders will closely analyze incoming data and speeches for insights into the future trajectory of the JPY against the USD.
