2025.02.05 [February 5] USDJPY enters 153 range amid risk aversion and Bank of Japan rate hike speculation
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Recap of previous trading day (February 4)
Yesterday the USDJPY reached a high of 155.52 shortly after GMT 08:00, and traded within the lower 155-yen range.
The market reacted to poor results from the December JOLTS Job Openings by selling dollars. The price hit a low of 154.17 shortly after GMT 18:00, and trading for the day closed at 154.33.
Recap of the Tokyo market and outlook going forward
Today the USDJPY marked a high of 154.46 directly after opening, then declined. Risk aversion from the U.S.-China trade war and speculation about early Bank of Japan rate hikes have sustained yen buying, reaching a low of 153.09 at GMT 03:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on February 5), the width of the Bollinger Bands is expanding, indicating a downward trend along the Bollinger Bands. If it breaks below 153, there is potential for movement targeting 150.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 13:15 U.S. January ADP employment change
- GMT 14:45 U.S. January Purchasing Managers Index (PMI)
- GMT 15:00 U.S. January ISM Services PMI
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