2025.03.12 [March 12] USDJPY decline pauses, gradually rising above 148 yen
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Recap of previous trading day (March 11)
Yesterday the USDJPY hit a low of 146.51 yen around GMT 23:30 (on March 10), and subsequently rose.
The January JOLTS Job Openings announced at GMT 14:00 showed a result of 7.74 million against an expected 7.63 million, which was a positive outcome, and the market reacted with buying. Around GMT 15:00, the price reached a high of 148.11 yen but did not continue to rise, and trading for the day closed at 147.72 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY has been somewhat firm since the opening. It rose slightly due to the implementation of U.S. steel and aluminum tariffs, and as of GMT 04:00, it has risen to the lower 148-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 12), if it breaks above the resistance line around 148.20 yen, the next target seems to be 149 yen.
The main economic indicators for today are as follows:
- GMT 12:30 U.S. February Consumer Price Index (CPI)
- GMT 12:30 U.S. February Consumer Price Index (Core CPI)
- GMT 18:00 U.S. February Monthly Budget Statement
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