2025.01.23 [January 23] USDJPY continues to strengthen but Bank of Japan monetary policy meeting looms. Movement may slow.
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Recap of previous trading day (January 22)
Yesterday the USDJPY rose from a low of 155.35 hit shortly after GMT 00:30. Trump's announcement of major AI development investments contributed to dollar strength.
Around GMT 14:30, momentum increased further, reaching a high of 156.70 around GMT 17:00. The price rise then stalled, with trading for the day closing at 156.49.
Recap of the Tokyo market and outlook going forward
Today the USDJPY touched a low of 156.28 around GMT 01:00, then turned upward, reaching a high of 156.61 around GMT 02:00. As of GMT 04:00, it is trading in the mid 156-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 January 23), the price broke above the consolidation range with the middle line showing an upward angle. A move above 157 and higher is possible.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- 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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