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2025.03.14 [March 14] Risk caution mood eases somewhat. Dollar buying resumes pushing rate into 148-yen range.

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Recap of previous trading day (March 13)

Yesterday the USDJPY reached a high of 148.37 yen around GMT 00:00, then saw yen buying following comments from BOJ Governor Kazuo Ueda, falling to the 147.5-yen range before turning upward again.

The February Producer Price Index (PPI) announced at GMT 12:30 showed weak results including the core index, causing large fluctuations up and down before declining. Around GMT 17:30, the price touched a low of 147.41, and trading for the day closed at 147.71.

Recap of the Tokyo market and outlook going forward

Today the USDJPY reached a high of 148.43 yen shortly after GMT 01:00, then fell back once, but as of GMT 04:00 is rising again in the early 148-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on March 14), it has broken above the range, and the middle line is also starting to show an incline. The immediate target appears to be 149 yen.

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The main economic indicators for today are as follows:

  • GMT 14:00 U.S. March Michigan Consumer Sentiment, preliminary

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