2025.11.06
[November 6] USDJPY briefly returns to 154-yen range but struggles with resistance, trading continues with buying and selling around 154 yen
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Recap of previous trading day (November 5)
Yesterday the USDJPY saw concentrated risk-averse yen buying following a sharp drop in the Nikkei Stock Average, hitting a low of 152.95 yen shortly after GMT 01:30. However, dollar buying then entered the market and the pair moved firmly higher.
The U.S. October ISM Services PMI, released at GMT 15:00, came in strong, and the pair reached a high of 154.35 yen. Trading for the day closed at 154.11 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY is trending somewhat weaker as an adjustment occurred following yesterday's rise. After hitting a low of 153.79 yen shortly after GMT 02:00, the price recovered slightly and as of GMT 05:00 is trading near 154.0 yen.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on November 6), the slope of the middle line has reversed, indicating a situation where direction is difficult to discern. If the pair fails to hold above the 154-yen range and breaks below 153.79 yen, a short-term downward trend may continue.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today, no closely watched economic indicators are scheduled for release.
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