2024.08.21 [August 21] Fairly strong selling of dollar/buying of yen, price dips to 144-yen range at one point.
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Recap of previous trading day (August 20)
Yesterday the USDJPY sold off after reaching a high of 147.36 shortly after GMT 06:00, and continued its decline to the close. The price hit a low of 145.19 just before GMT 20:00.
It seems that this dollar selling was related to reports that figures for growth in U.S. employment up to March 2024 are likely to be much worse than initially estimated.
Recap of the Tokyo market and outlook going forward
Today the USDJPY temporarily fell into the 144-yen range shortly after GMT 00:30, but rebounded after hitting a low of 144.93.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on August 21), the price has rebounded after hitting a low, breaking above the -1 standard deviation of the Bollinger Band.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today's main economic indicators are as follows.
- GMT 18:00 U.S. Federal Open Market Committee (FOMC) Meeting Minutes
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