2024.12.03 [December 3] The battle around the 150 yen line continues. Will the market recover from yesterday's decline?
This article was :
published
updated
Recap of previous trading day (December 2)
Yesterday the USDJPY rose directly after the open, reaching a high of 150.75 shortly after GMT 05:00. After trading in the lower 150 yen range, it fell shortly after GMT 15:00, reaching a low of 149.08, and ended the day's trading at 149.58.
Recap of the Tokyo market and outlook going forward
Today the USDJPY, perhaps as a reaction to yesterday's yen strength and dollar weakness, has risen from its low of 149.49 marked shortly after GMT 23:30, exceeded 150 after GMT 03:30, and as of GMT 04:00 is continuing to rise in the lower 150 range.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:50, December 3), it has broken above the middle line and is approaching +1 standard deviation. If it breaks above yesterday's high of 150.75, it looks likely to extend even further.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 15:00 U.S. October JOLTS Job Openings
Was this article helpful?
No
Yes
0 out of 0 people found this article helpful.
Thank you for your feedback.
