2024.12.19 [December 19] U.S.-Japan Interest Rate Differential Maintains Trend USDJPY breaks above 155 yen
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Recap of previous trading day (December 18)
Yesterday the USDJPY rose after the FOMC announcement at GMT 19:00, which showed a 0.25% rate cut and a forecast of two rate cuts next year. It reached a high of 154.86 at around GMT 21:30 and closed near that high.
Recap of the Tokyo market and outlook going forward
Today the USDJPY responded to the Bank of Japan's monetary policy meeting decision to maintain policy rates with yen selling. The price touched 155.47 after GMT 05:00.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:10, December 19), the Bollinger Band width has expanded, and the price is trending upward between +1 standard deviation and +2 standard deviations. The November high of 156.74 appears to be the next target.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 13:30 U.S. Real gross domestic product, Q3
- GMT 13:30 U.S. PCE Price Index, Q3
- GMT 13:30 U.S. Core PCE Price Index, Q3
- GMT 13:30 U.S. Initial jobless claims for the previous week
- GMT 13:30 U.S. Continuing jobless claims for the previous week
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