2025.10.22 NEW
[October 22] Yen selling following Takaichi's appointment as Prime Minister has run its course, with trading flat in the upper 151-yen range
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Recap of previous trading day (October 21)
Yesterday the USDJPY remained firm after hitting a low of 150.47 yen shortly after GMT 00:30. The yen weakened after LDP president Takaichi was appointed Prime Minister, reaching a high of 152.17 yen shortly after GMT 12:30. Trading for the day closed at 151.92 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY peaked at around 151.95 yen at approximately GMT 23:30 (on October 21), then traded lower to reach a low of 151.48 yen at around GMT 01:00. As of GMT 04:30, the price is moving in the upper 151-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on October 22), the angle of the middle line is approaching horizontal, suggesting the pair is moving into a sideways pattern. Support is forming around 151.45 yen, and a break below this level could extend the decline to the mid-150-yen range.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, no closely watched economic indicators are scheduled for release.
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