2025.04.17 [April 17] USDJPY briefly breaks below 142, headline-driven movements continue
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Recap of previous trading day (April 16)
Yesterday the USDJPY reached a high of 143.28 shortly after GMT 23:00 (on April 15) before falling back and hovering in the upper 142-yen range.
Jerome Powell, the Fed Chair, mentioned the possibility of persistent inflation and delays in achieving the Fed's targets, causing the USDJPY to decline. It touched a low of 141.64 shortly after GMT 19:00, and trading for the day closed at this low.
Recap of the Tokyo market and outlook going forward
Today the USDJPY reached a high of 142.86 around GMT 01:30, as exchange rates were not discussed during the U.S.-Japan trade talks.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on April 17), we can see a rebound after reaching -2 standard deviations, with resistance being watched around 142.9. If the price fails to break above this level, it would be appropriate to maintain a downward outlook.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 12:30 U.S. March Housing starts
- GMT 12:30 U.S. March Building permits
- GMT 12:30 U.S. April Philadelphia Fed Manufacturing Index
- GMT 12:30 U.S. Initial jobless claims for the previous week
- GMT 12:30 U.S. Continuing jobless claims for the previous week
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