2024.05.21 [May 21] Price surges through resistance into the 156-yen range, now band walking on the 1-hour chart
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Recap of previous trading day (May 20)
Yesterday the USDJPY showed no significant movement during Tokyo trading hours and the early part of the London session. The price began to rise at around GMT 12:00, breaking through the high of the day and surging into the 156-yen range.
This upward momentum did not fade even as the market headed into the close, and the day's trading ended at 156.22.
Recap of the Tokyo market and outlook going forward
Today the price began trending upward in the morning, setting a high of 156.49 at around GMT 02:30.
Looking at the 1-hour chart of the USDJPY (as on GMT 03:05 on May 21), the price has broken through resistance to resume its upward trend, and is beginning to band walk.
(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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