2025.01.21 NEW [January 21] USDJPY shows volatile movement on Trump tariff news. Nervous trading continues.
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Recap of previous trading day (January 20)
Yesterday the USDJPY hit a high of 156.58 shortly after GMT 23:00 (on January 19), then temporarily fell to the 155.7 level, before recovering to around 156.47.
Following reports that Trump would not impose tariffs on his first day in office, as announced ahead of his inauguration speech, the price fell sharply around GMT 13:30, reaching a low of 155.41 around GMT 14:30. Trading for the day closed at 155.56 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY reached a high of 156.23 shortly after GMT 00:30, following reports that President Trump plans to impose tariffs of up to 25% on imports from Mexico and Canada.
It soon reversed course and hit a low of 154.77 shortly after GMT 03:00, and as of GMT 04:00 is trading in the lower 155-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on January 21), it is declining near the -1 standard deviation line, and with the middle line also trending downward, it still appears appropriate to maintain a downward bias.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, no closely watched economic indicators are scheduled for release.
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