[June 21] Despite rising into the 159-yen range, price takes a breather as band walk comes to an end

2024.06.21 [June 21] Despite rising into the 159-yen range, price takes a breather as band walk comes to an end

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Recap of previous trading day (June 20)

Yesterday the USDJPY trended upward all day. After opening at 158.06, it continued to rise at a steady pace, so that just before the close it hit a high of 158.94 yen.

Initial jobless claims for the previous week that were announced yesterday came in at 238,000 close to the expected figure of 235,000. It had no significant effect on price movement.

Recap of the Tokyo market and outlook going forward

Today the USDJPY reached a high of 159.12 just before GMT 01:00, but then sold off.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:30 on June 21), the band walk between the +1 and +2 standard deviation Bollinger Bands has ended and the price appears to be in a pullback.