USD/JPY holds steady as Japan downplays July 9 trade deadline

USD/JPY remains stable around 156.50 as Japanese trade representative Akazawa clarifies that the July 9 deadline for US-Japan trade negotiations is not fixed. The official emphasized Japan will not compromise its negotiating position despite the approaching date, stating he never confirmed July 9 as a hard deadline. This development reduces immediate pressure on the yen from potential trade concessions. Market participants are monitoring whether negotiations will extend beyond the initial timeframe, which could impact bilateral trade flows and currency dynamics. The pair continues trading within a narrow 156.20-156.80 range, with traders awaiting clearer signals on trade outcomes. Technical indicators suggest consolidation, with resistance at 157.00 and support at 156.00. Any breakthrough in negotiations or deadline extensions could trigger volatility in USD/JPY positioning.