2025.01.16 [January 16] USDJPY Plunges to 155 range amid successive Bank of Japan rate hike predictions
This article was :
published
updated
Recap of previous trading day (January 15)
Yesterday the USDJPY gained downward momentum after Bank of Japan Governor Ueda's comments suggested a rate hike, breaking below 157 around GMT 07:30.
Following the U.S. CPI announcement at GMT 13:30, where the core index came in slightly below expectations, the market responded by selling dollars. The price hit a low of 155.93 shortly after GMT 14:00, and trading for the day closed at 156.46.
Recap of the Tokyo market and outlook going forward
Today the USDJPY hit a high of 156.53 shortly after GMT 00:30, then fell to a low of 155.20 around GMT 02:00 following reports suggesting the Bank of Japan is likely to implement additional rate hikes depending on Trump's comments on January 20.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40), the price has broken below its previous range and fallen significantly. The downward trend appears likely to continue.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today's main economic indicators are as follows.
- GMT 13:30 U.S. December Retail sales
- GMT 13:30 U.S. Initial jobless claims for the previous week
- GMT 13:30 U.S. Continuing jobless claims for the previous week
Was this article helpful?
No
Yes
0 out of 0 people found this article helpful.
Thank you for your feedback.
