2024.12.09 [December 9] USDJPY struggles to move higher as employment report fails to boost price and risk aversion continues
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Recap of previous trading day (December 6)
On Friday of last week the USDJPY started to rise just after GMT 02:30, hitting a high of 150.70 at around GMT 10:30.
Following the U.S. employment report released at GMT 13:30, the market reacted with dollar selling, reaching a low of 149.36 around GMT 14:30. The decline halted there, and trading for the week closed at 149.98.
Recap of the Tokyo market and outlook going forward
Today the USDJPY touched 149.69 around GMT 00:30, but recovered to around 150 yen near GMT 01:30, and as of GMT 04:00, continues to trade in the same range without clear direction.
Political instability in France and South Korea, along with the collapse of the Assad regime in Syria, have occurred in succession, spreading caution about geopolitical risks and limiting market momentum.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on December 9), while the middle line is slightly downward-facing, the price has stalled around 150 yen, showing no trend on this timeframe.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, no closely watched economic indicators are scheduled for release.
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