随着日元走强，美元/日元和澳元/日元测试关键支撑位。日元正在重新获得牵引力，将美元/日元和澳元/日元推向关键技术支撑位。美元疲软的背景和对波动性的重新关注将美元/日元拉低至备受关注的155点以下，而澳元/日元则从多年高点回落。

USD/JPY and AUD/JPY Test Key Support as Japanese Yen Strengthens.The Japanese yen is regaining traction, pushing USD/JPY and AUD/JPY toward key technical support levels. A softer US dollar backdrop and renewed focus on volatility have dragged USD/JPY below the closely watched 155 handle, while AUD/JPY has rolled over from multi-year highs.

亚洲经济和活动日历2025年12月17日：日本贸易平衡和资本支出独立。日本数据是日历的焦点。我们今天将获得的交易和机器订单信息不是顶级数据，但它都包含在其中。

Economic and event calendar in Asia 17 December 2025: Japan trade balance & a capex indie.Japanese data is the focus of the calendar. The trade and machine orders info we'll get today are not top-tier data, but its all goes into the mix.

美元/日元下跌，日元因日本央行加息押注和美国就业数据疲软而走强。美元/日元下跌，日元因日本央行加息押注和美国就业数据疲软而走强

USD/JPY declines as Yen strengthens on BoJ hike bets and weak US jobs data.USD/JPY declines as Yen strengthens on BoJ hike bets and weak US jobs data

日本银行预览。日本央行（BoJ）政策制定者本周将加息25个基点，这是目前的共识，但我们早在金融市场完全定价日本央行收紧货币政策之前就采取了这一立场。市场完全消化了日本央行12月加息的影响，这可能意味着日元将无法达到我们2025年美元兑日元的目标；然而，毫不奇怪的是，新兴市场货币也应该受到更多保护，不会经历太多加息后的波动，这与去年日本央行8月加息不同，随着日元融资套利交易的解除，日本央行8月份加息给许多高收益新兴货币注入了波动。

Bank of Japan Preview.Bank of Japan (BoJ) policymakers are set to raise rates 25 bps this week, a now consensus view but a stance we took well before financial markets fully priced tighter BoJ monetary policy. Markets fully digesting a BoJ December rate hike likely means the Japanese yen will fall short of hitting our YE-2025 USDJPY target; however, no element of surprise also means emerging market currencies should be more protected and not experience much post-hike volatility, a different dynamic relative to last year's BoJ August hike that injected volatility across many high-yielding emerging currencies as the yen funded carry trade unwound.