2024.11.28 [November 28] USDJPY falls below 151 on double punch of dollar selling pressure and position adjustments, with U.S. markets closed for Thanksgiving today
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Recap of previous trading day (November 27)
Yesterday the USDJPY continued to decline after reaching a high of 153.23 after GMT 23:00 on November 26. Continued dollar selling due to concerns over Trump tariffs, focus on December U.S.-Japan monetary policy, and adjustments ahead of U.S. Thanksgiving led to a low of 150.45 around GMT 16:30. The decline then stalled, with trading for the day closing at 151.07.
Recap of the Tokyo market and outlook going forward
Today the USDJPY rose directly after the open, reaching a high of 151.75 around GMT 01:00. After a temporary decline, it is trading again in the mid-151 range as of GMT 04:00.
Looking at the USDJPY 1-hour chart (as of GMT 03:50, November 28), the decline has paused and price has risen above the middle line. While this timeframe suggests an upward bias, we should remain cautious about the possibility of the price breaking below the middle line and declining again.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, U.S. markets are closed, and no closely watched economic indicators are scheduled for release.
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