Forex report
Forex report
FXON's technical analysts provide market reports in the form of columns on the most recent foreign exchange market movements, based on world news and economic activities. Please take a look at it as a reference for your trading.
2024.11.20
NEW
[November 20] USDJPY breaks through 155 yen, using risk-aversion-driven sharp drop as buying opportunity
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY rose from its early low of 154.53 yen made directly after the open, and exceeded 155 yen after GMT 04:00.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 20), yesterday's decline has become a buying opportunity causing a rise, with candlesticks moving toward the +2 standard deviation direction.
See details
2024.11.19
[November 19] Will the post-U.S. presidential election dollar strength stall? Caution toward downward movement
Today the USDJPY moved down directly after the open, marking a low of 153.95 around GMT 03:00.
1-hour chart (as of GMT 03:50), the middle line has started to slope downward, with the price falling along the -2 standard deviation line. If it breaks below yesterday's low of 153.84, it looks likely to test even lower levels.
See details
2024.11.18
[November 18] Nearly 3-yen decline pauses, yen selling emerges as rate hike expectations are dampened
Looking at the USDJPY 1-hour chart (as of GMT 03:40 November 18), it is rebounding from the -2 standard deviation toward the middle line. If it exceeds today's high of 155.14, it looks likely to rise further.
See details
2024.11.15
[November 15] Underlying tone of yen weakness continues on strong U.S. economy
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY hit a high of 156.74 after GMT 00:30. As of GMT 04:00, it is trading in the lower 156-yen range.
See details
2024.11.14
[November 14] USDJPY breaks through 156 yen - will the upward trend continue?
Today the USDJPY began to rise at around GMT 00:00, reaching 156.06 just after GMT 02:30, before falling back. After GMT 04:00, it again exceeded 156 yen and continues to rise.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 November 14), the price is moving between the +2 and +1 standard deviation Bollinger Bands, maintaining an upward trend.
See details
2024.11.13
[November 13] Will the USDJPY exceed 155 yen amid lack of strong market drivers?
Today, the USDJPY testing the 155 level As of GMT 04:00, it remains range-bound in the upper 154 range.
1-hour chart the price is moving between +2 and +1 standard deviations with reduced momentum, though the middle line maintains its upward slope. A breakthrough above the critical 155 level could accelerate the upward trend.
See details
2024.11.12
[November 12] USDJPY Touches 154, May Aim for Recent Highs
Today's USDJPY declined from around GMT 23:00 (November 11), touching 153.47 before turning upward and reaching 154.05 around GMT 02:00.
Although it exceeded 154, after breaking above the +2 standard deviation level it fell back, and if it breaks below today's low of 153.47, there is a possibility it could transition into a downward trend.
See details
2024.11.11
[November 11] USDJPY Halts Decline Near 151 Yen, Now Rising in 153 Yen Range
Today the USDJPY has been rising with repeated rebounds straight after the open, reaching a high of 153.46 around GMT 03:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 11), it is trading above the middle line near the +2 standard deviation level, with the band width expanding.
See details
2024.11.08
[November 8] U.S. Interest Rate Cut by 0.25% USDJPY Weakens Following Event
Today's USDJPY rose to 153.37 around GMT 01:30, but later fell back to around 153. As of GMT 04:00, it continues to trade in the upper 152-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 8), the middle line is trending down, and the price is moving near the -1 standard deviation level. The focus is on whether it will break below yesterday's low of 152.69 yen.
See details
2024.11.07
[November 7] Trump Returns as U.S. President. USDJPY Moves in 154 Range After Sharp Rise
Today's USDJPY maintains its position in the 154 range, recording 154.71 yen around GMT 00:30. As of GMT 04:00, it continues to trade in the mid-154 yen range. Looking at the 1-hour chart, after the sharp rise, the band width has narrowed, and currently no trend is visible.
See details
2024.11.06
[November 6] USDJPY Temporarily Reaches 154-Range on Trump's Strong Performance
Today's USDJPY surged on reports of Trump's strong performance, reaching 154.30 yen around GMT 02:30. After GMT 05:00, it declined somewhat and is moving in the mid-153 yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 15:40 on November 5), it has broken above the recent high of 153.88 yen and is trading above the +2 standard deviations level.
See details
2024.11.05
[November 5] The USDJPY decline pauses. Will there be a gap fill before the presidential election results?
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY has risen despite pushback, and as of GMT 04:00 is trading in the lower half of the 152-yen range.
If the movement to fill the gap continues beyond the previous day's high of 152.52 yen, we might see levels above 153 yen.
See details
2024.11.04
[November 4] USDJPY falls below 152 yen, caution needed regarding volatility risk from U.S. presidential election
This week the USDJPY gapped down at the open and started trading at 152.26 yen. It moved down directly after the open, marking a low of 151.59 at around GMT 05:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 4), the middle line is trending downward, with the candlesticks breaking below the -1σ and falling along the -2σ line.
See details
2024.11.01
[November 1] After decline following Governor Ueda's press conference, markets stabilize; U.S. employment statistics due in evening
Today's the USDJPY saw yen buying during Tokyo hours, touching 151.78 yen past GMT 23:30 on October 31, but as of GMT 04:00, is trading in the mid-152 yen range.
Looking at the the USDJPY 1-hour chart (as of GMT 04:20, November 1), the decline has paused and turned upward, crossing above the middle line.
See details
2024.10.31
[October 31] Interest rate left unchanged by BOJ, as expected, with limited impact on market
Today it was announced shortly after GMT 02:30 that the Bank of Japan Monetary's Monetary Policy Meeting had left the policy interest rate unchanged.
See details
2024.10.30
[October 30] Underlying tone of yen weakness continues, market may be in wait-and-see mode ahead of U.S. GDP announcements
Today the USDJPY moved down directly after the open, but after hitting 153.07 some time after GMT 00:00 it bottomed out, and as of GMT 04:00 it was trading in the lower half of the 153-yen range without a clear sense of direction.
See details
2024.10.29
[October 29] Post-House of Representatives movement has died down; will the next phase be driven by U.S. Presidential elections?
Today the USDJPY initially trended down, falling below 153 yen at around GMT 00:50, but it stopped falling after GMT 01:00, and as of GMT 04:00 had returned to the 153-yen range.
See details
2024.10.28
[October 28] JPY weakens as uncertainty grows after ruling party loses majority
The USDJPY gapped up at the start of Tokyo trading, starting at 153.18. Selling pressure on the yen accelerated after the ruling coalition failed to secure a majority in Sunday's general election, creating political uncertainty. It hit 153.88 after GMT 01:30 and is trading in the mid-153 range as of GMT 04:00.
See details
2024.10.25
[October 25] Decline Pauses Ahead of Weekend General Election
Today, a "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), the USDJPY rose from 151.57 marked around GMT 00:00 to a high of 152.10 shortly after GMT 01:30 before falling back. As of GMT 04:00, it is trading in the upper half of the 151-yen range. With the general election approaching on October 27, the market is in a wait-and-see mode.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on October 25), the decline from the previous day petered out. It is trading closer to the middle line, with contracting bands indicating no clear directional momentum.
See details
2024.10.24
[October 24] Correction after upward surge? Take a view based on the shape of the Bollinger Bands
Today the USDJPY chart shows the price hitting 152.82 yen around GMT 22:00, then fluctuating as the market trended down. After Finance Minister Katsunobu Kato and Deputy Chief Cabinet Secretary Kazuhiko Aoki made statements that pushed the market towards a weaker yen, the USDJPY was trading in the lower half of the 152-yen range some time after GMT 04:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on October 24), the angle of the middle line is approaching the horizontal and the bands that had been widening are now contracting, indicating that the market has become trendless over the period shown.
See details