The post USD/JPY slides as Iran reopens Hormuz, WTI plunges and USD weakens appeared on BitcoinEthereumNews.com.

USD/JPY edges lower on Friday as the Japanese Yen (JPY) strengthens against a softer US Dollar (USD), with easing Oil prices providing additional support, given Japan’s heavy reliance on imported energy. At the time of writing, the pair is trading around 158.18, down 0.61% on the day. Despite the decline, the pair remains largely range-bound within a one-month range between 157.50 and 160.50 and is on track for a third consecutive weekly decline, mirroring moves in the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies. The index remains under pressure amid improving market sentiment surrounding a potential US-Iran peace deal. Crude prices plunged more than 10% after Iran reopened the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said in a statement on X that, in line with the ceasefire in Lebanon, passage for all commercial vessels through the Strait has been declared open for the remaining period of the truce, with transit taking place along coordinated routes set by Iran’s Ports and Maritime Organisation. The sharp drop in Oil prices is easing immediate inflation risks, reviving expectations for Federal Reserve (Fed) rate cuts, while reinforcing the Bank of Japan’s (BoJ) gradual policy normalization path. Looking ahead, traders will closely monitor developments around US–Iran talks over the weekend, with markets watching for signs of a lasting peace deal. However, unresolved differences, particularly over nuclear issues, could keep uncertainty elevated. In the daily chart, USD/JPY holds a bearish near-term bias as spot sits below the 20-day simple moving average (SMA) component of the Bollinger Bands at 159.20 while only marginally above the lower band support at 158.15. This configuration suggests the recent pullback is not yet resolved, with the pair trading in the lower half of its volatility envelope; a sub-50 Relative Strength Index…

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Filed under: News - @ April 17, 2026 7:20 pm