[February 10] USDJPY finds support at 151 yen. Market moves into a lull.

2025.02.10 [February 10] USDJPY finds support at 151 yen. Market moves into a lull.

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Recap of previous trading day (February 7)

On Friday of last week the USDJPY broke below 151 after GMT 00:00, then turned higher and exceeded 152 after GMT 10:00.

At GMT 01:30, the U.S. employment statistics were released, and the USDJPY fluctuated significantly, reaching a high of 152.42, but selling pressure intensified, and by GMT 16:30, it touched a low of 150.93. The decline then paused, and trading for the week closed at 151.31.

Recap of the Tokyo market and outlook going forward

As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY rose directly after the open, reaching a high of 152.21 around GMT 02:30. As of GMT 04:00, it is trading around 152.0.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on February 10), it rebounded after breaking below 151 yen and has formed a range with the middle line remaining almost horizontal. It is difficult to determine a clear direction, so it seems that the best strategy here would be to move in the direction in which the price breaks.