2024.05.08 [May 8] Price continues to rise since hitting low during Japanese Golden Week holidays, battleground shifts to 155-yen range
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Recap of previous trading day (May 7)
Yesterday, USDJPY advanced with significant pullbacks, reaching a high of 154.74 yen around GMT 19:00.
Since hitting a low of 151.85 on May 3, the price has moved upward, and on the daily chart has recorded two consecutive strong up days.
Recap of the Tokyo market and outlook going forward
Today the USDJPY continued to trend upward, in the process moving the battleground to the 155-yen range, as shown by the high of 155.26 it reached just after GMT 02:00.
Looking at the 1-hour chart of the USDJPY (as of GMT 15:20 on May 8), the middle line of the Bollinger Bands is rising, and the price continues to move above that level. This shows that a certain level of volatility is being maintained.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
No closely watched economic indicators or comments by influential individuals are scheduled for today.
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