2025.02.21 [February 21] Sharp rebound from below 150 yen. Market continues to swing on officials' comments.
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Recap of previous trading day (February 20)
Yesterday the USDJPY saw accelerated risk-averse yen buying due to receding hopes for a Ukraine ceasefire, breaking below 150 around GMT 06:30.
The poor U.S. initial jobless claims data released at GMT 13:30 further spurred dollar selling. Around GMT 17:30, the price touched a low of 149.39, and trading for the day closed at 149.61.
Recap of the Tokyo market and outlook going forward
Today the USDJPY touched a low of 149.27 around GMT 23:30 (on February 20), then sharply rebounded following comments from BOJ Governor Kazuo Ueda. Around GMT 02:30, it reached a high of 150.73.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 21), while the sharp rebound temporarily exceeded +2 standard deviations, unless the price breaks above the recent high of 150.73 again, the downward trend appears likely to continue.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 14:45 U.S. February Purchasing Managers Index (PMI)
- GMT 15:00 U.S. February Michigan Consumer Sentiment
- GMT 15:00 U.S. January Existing home sales
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