2025.02.11 [February 11] Limited market factors keep USDJPY trading range-bound around 152 yen
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Recap of previous trading day (February 10)
Yesterday the USDJPY started at the day's low of 151.18, then rose to reach a high of 152.54 around GMT 08:30. However, the advance did not continue, and the pair turned downward before finding support in the 152.5 range, and trading for the day closed at 151.99.
Recap of the Tokyo market and outlook going forward
Today the USDJPY touched a low of 151.68 around GMT 00:00, and has since been trading range-bound around 152 yen.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 11), range-bound trading continues with the band width narrowing. 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. If the range-bound period is prolonged, it could lead to momentum once a direction is established.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 15:00 U.S. Statements from FRB Chairman Jerome Powell
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