[January 30] U.S. Policy rate unchanged as expected by market. Attention now turns to Bank of Japan.

2025.01.30 [January 30] U.S. Policy rate unchanged as expected by market. Attention now turns to Bank of Japan.

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Recap of previous trading day (January 29)

Yesterday the USDJPY reached a high of 155.97 around GMT 01:00, then fell back to record a low of 154.93 shortly after GMT 15:30.

The U.S. interest rate announcement shortly after GMT 19:00 maintained rates at 4.25-4.50%. Market reaction was limited, and trading for the day closed at 155.21 yen.

Recap of the Tokyo market and outlook going forward

Today the USDJPY fell directly after the open, and hit a low of 154.46 shortly after GMT 01:00. Attention is focused on Bank of Japan Deputy Governor Himino's speech starting at GMT 06:10.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:20 on January 30), downward momentum is strengthening, with the middle line turning downward. There is potential for further downside movement below 154.