2024.07.01 [July 1] Price recovers to a position from which it can again aim for a new high in the lower half of the 161-yen range
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Recap of previous trading day (June 28)
On Friday of last week the USDJPY reached a new high of 161.28 shortly after GMT 01:30, but subsequently reversed. Despite hitting a low of 160.26 yen some time after GMT 13:30, it then rose to end the week's trading mark at 160.83.
Recap of the Tokyo market and outlook going forward
Today the USDJPY trended up during Tokyo trading hours, reaching a high of 161.18 shortly before GMT 01:00.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:25 on July 1), the price has rebounded from the support provided by the low set in bottom half of the 160-yen range, and seems to be moving in a way that could again result in new highs.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today's main economic indicators are as follows.
- GMT 13:45 U.S. June Manufacturing Purchasing Managers Index (PMI, revised)
- GMT 14:00 U.S. June ISM Manufacturing PMI
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