2024.11.07 [November 7] Trump Returns as U.S. President. USDJPY Moves in 154 Range After Sharp Rise
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Recap of previous trading day (November 6)
Yesterday's USDJPY surged on reports of Trump's lead, breaking through 154 yen after GMT 02:30. It fell back to 153.13 yen after GMT 05:00, but subsequently rose again.
After GMT 10:00 when Trump secured a majority of electoral votes and victory was confirmed, it reached a high of 154.69 yen at GMT 18:00, ending trading at 154.62 yen.
Recap of the Tokyo market and outlook going forward
Today's USDJPY maintains its position in the 154 range, recording 154.71 yen around GMT 00:30. As of GMT 04:00, it continues to trade in the mid-154 yen range. Looking at the 1-hour chart, after the sharp rise, the band width has narrowed, and currently no trend is visible.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 13:30 U.S. Initial jobless claims for the previous week
- GMT 13:30 U.S. Continuing jobless claims for the previous week
- GMT 19:00 U.S. Announcement on interest rates after U.S. Federal Open Market Committee (FOMC) meeting
- GMT 19:30 U.S. Regular press conference with FRB Chairman Jerome Powell
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