2025.03.11 [March 11] USDJPY continues to pursue lower levels. Risk-averse atmosphere permeates the market.
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Recap of previous trading day (March 10)
Yesterday the USDJPY started by opening with a gap down from the high of 147.85 yen. The dollar was sold off, leading to a decline, after President Trump refused to deny the possibility of a U.S. recession, reaching a low of 146.63 yen around GMT 14:30.
Afterward, some buyback activity emerged, and trading for the day closed at 147.16 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY fell directly after the open, and hit a low of 146.54 yen shortly after GMT 23:30 (on March 10). From there, it rose to reach a high of 147.22 yen shortly after GMT 03:00, but then fell back, and as of GMT 05:00, it is trading around 147.0 yen.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 11), it continues to make lower lows while fluctuating. The trend of not being able to exceed the previous day's high continues, so it seems appropriate to maintain a downward perspective.
The main economic indicators for today are as follows:
- GMT 14:00 U.S. January JOLTS Job Openings
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