2025.03.25 NEW [March 25] Surpassing 150 yen, but upward momentum pauses just short of 151 yen
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Recap of previous trading day (March 24)
Yesterday the USDJPY started in the upper 149-yen range immediately after the opening, and then moved mostly sideways.
The market reacted with buying after strong figures were released in the March Services PMI announced at GMT 13:45. The price reached a high of 150.75 yen at GMT 16:00, and trading for the day closed at 150.67 yen.
Recap of the Tokyo market and outlook going forward
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY reached a high of 150.94 yen shortly after GMT 00:30, but failed to continue rising and fell back. As of GMT 05:00, it is moving in the mid-150 yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on March 25), it has been pushed back to the middle line and may temporarily return to around 150.0 yen. The target for the immediate high seems to be the March 3 high of 151.30 yen.
Today's main economic indicators are as follows.
- GMT 13:00 U.S. January Case-Shiller home price index
- GMT 14:00 U.S. February New home sales
- GMT 14:00 U.S. March Consumer Confidence Index
- GMT 14:00 U.S. March Richmond Fed manufacturing index
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