2024.11.04 [November 4] USDJPY falls below 152 yen, caution needed regarding volatility risk from U.S. presidential election
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Recap of previous trading day (November 1)
Last Friday, the USDJPY began rising around GMT 01:30, and waited for the release of U.S. employment statistics while in the upper 152 yen range.
The October nonfarm payrolls, announced at GMT 12:30, came in significantly below expectations. The USDJPY temporarily fell to 151.78 yen before quickly rising again.Some time around GMT 20:00 the market hit a high of 153.09, and trading for the week closed at 152.94.
Recap of the Tokyo market and outlook going forward
This week the USDJPY gapped down at the open and started trading at 152.26 yen. It moved down directly after the open, marking a low of 151.59 at around GMT 05:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 4), the middle line is trending downward, with the candlesticks breaking below the -1σ and falling along the -2σ line.
（20-period Bollinger Band, showing ±1 and ±2 standard deviations）
The main economic indicators for today are as follows:
- GMT 15:00 U.S. September Factory Orders (MoM)
This week, with the U.S. presidential election on the 5th and FOMC on the 7th, caution is needed regarding significant market volatility.
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