2024.07.19 [July 19] In the absence of inspiring news to drive this end-of-week market, we could see the price continue to rise gradually
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Recap of previous trading day (July 18)
Yesterday the USDJPY bottomed at the low of 155.36 that was set shortly after GMT 23:30 on Wednesday, rebounded, and then continued on up. Just before the close the price hit a high of 157.40, meaning that the market rose more than 2 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY marked a low of 157.06 shortly after GMT 00:00, then shifted direction to rise in leisurely fashion.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:15 on July 19), the price has been rebounding since the low set yesterday morning, and has been more or less band walking along the upper band.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
No major economic indicators or comments by influential individuals are scheduled for today. For that reason, the market may continue to rise gradually in the direction already established.
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