2024.12.18 [December 18] U.S. and Japan interest rate announcements approaching. USDJPY stagnates in upper 153 range.
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Recap of previous trading day (December 17)
Yesterday the USDJPY reached a high of 154.34 around GMT 00:30, then began trending downward.
When U.S. November retail sales were released at GMT 13:30, the market responded with dollar selling as the ex-autos figure showed disappointing results. The rate later touched a low of 153.16 after GMT 18:30, and trading for the day closed at 153.38.
Recap of the Tokyo market and outlook going forward
Today the USDJPY reached a high of 153.78 shortly after GMT 01:30, then traded within a range in the upper 153 level. With attention focused on the U.S. FOMC, there has been no significant movement.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on December 18), it has risen from -2 standard deviations and is stagnating at the middle line. If it breaks below -1 standard deviation again, there could be potential for further downside movement
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- 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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