2025.05.07 [May 7] Rise to 145-yen range is wiped out, back to competition in the 143-yen range
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Recap of previous trading day (May 6)
Yesterday the USDJPY showed strong risk aversion sentiment due to uncertainty about Trump tariffs and U.S. policy. After reaching a high of 144.27 yen around GMT 01:30, it moved downward.
Shortly after GMT 14:30, the price touched a low of 142.35 yen and temporarily rebounded before falling again. Trading for the day closed at 142.37 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY rose following reports that U.S.-China trade negotiations are expected to begin this weekend. Shortly after GMT 04:30, it reached a high of 143.32 yen, but the rise has since paused.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on May 7), buybacks after the decline have slowed, and 143.35 yen appears to be recognized as resistance. If the price gets pushed back from here, it's likely to enter a phase of sell orders on the rise.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 18:00 Announcement on interest rates after U.S. Federal Open Market Committee (FOMC) meeting
- GMT 18:30 U.S. Regular press conference with FRB Chairman Jerome Powell
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