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Forex Report

FXON's technical analysts provide market reports in the form of columns on the most recent foreign exchange market movements, based on world news and economic activities. Please take a look at it as a reference for your trading.


2024.11.04
This week the USDJPY gapped down at the open and started trading at 152.26 yen. It moved down directly after the open, marking a low of 151.59 at around GMT 05:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 4), the middle line is trending downward, with the candlesticks breaking below the -1σ and falling along the -2σ line.
2024.11.01
Today's the USDJPY saw yen buying during Tokyo hours, touching 151.78 yen past GMT 23:30 on October 31, but as of GMT 04:00, is trading in the mid-152 yen range. Looking at the the USDJPY 1-hour chart (as of GMT 04:20, November 1), the decline has paused and turned upward, crossing above the middle line.
2024.10.31
Today it was announced shortly after GMT 02:30 that the Bank of Japan Monetary's Monetary Policy Meeting had left the policy interest rate unchanged.
2024.10.30
Today the USDJPY moved down directly after the open, but after hitting 153.07 some time after GMT 00:00 it bottomed out, and as of GMT 04:00 it was trading in the lower half of the 153-yen range without a clear sense of direction.
2024.10.29
Today the USDJPY initially trended down, falling below 153 yen at around GMT 00:50, but it stopped falling after GMT 01:00, and as of GMT 04:00 had returned to the 153-yen range.
2024.10.28
The USDJPY gapped up at the start of Tokyo trading, starting at 153.18. Selling pressure on the yen accelerated after the ruling coalition failed to secure a majority in Sunday's general election, creating political uncertainty. It hit 153.88 after GMT 01:30 and is trading in the mid-153 range as of GMT 04:00.
2024.10.25
Today, a "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), the USDJPY rose from 151.57 marked around GMT 00:00 to a high of 152.10 shortly after GMT 01:30 before falling back. As of GMT 04:00, it is trading in the upper half of the 151-yen range. With the general election approaching on October 27, the market is in a wait-and-see mode. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on October 25), the decline from the previous day petered out. It is trading closer to the middle line, with contracting bands indicating no clear directional momentum.
2024.10.24
Today the USDJPY chart shows the price hitting 152.82 yen around GMT 22:00, then fluctuating as the market trended down. After Finance Minister Katsunobu Kato and Deputy Chief Cabinet Secretary Kazuhiko Aoki made statements that pushed the market towards a weaker yen, the USDJPY was trading in the lower half of the 152-yen range some time after GMT 04:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on October 24), the angle of the middle line is approaching the horizontal and the bands that had been widening are now contracting, indicating that the market has become trendless over the period shown.
2024.10.23
Today the USDJPY broke above the high of the previous day some time after GMT 00:00 and gathered upward momentum, so that shortly after GMT 05:00 it was trading in the 152-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 03:05 on October 23), today's upward trend in the price can be seen to have resulted in a widening of the bands that had begun to tighten.
2024.10.22
During the early stages of today's Tokyo session, the USDJPY declined in leisurely fashion, but shortly after GMT 01:00 it hit a low of 150.49 yen and began to increase, surpassing the high of the previous day. Not long after GMT 04:00, the price briefly exceeded 151 yen. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on October 22), the price is trading above the upwardly trending middle line and mostly above the +1 standard deviation, confirming the upward swing of the market.
2024.10.21
Today in the Tokyo session, falling below the level of the previous trading day and setting a new low of 149.08 not long after GMT 03:30.
2024.10.18
Today the USDJPY trended downward for the first half of the Tokyo session, falling below the 150-yen level. Looking at the daily chart of the USDJPY (as of GMT 03:35 on October 18), despite having broken above the round number of 150 yen, trading has straddled this level rather than accelerating upward.
2024.10.17
In today's Tokyo session, the USDJPY has continued the downward trend of the last phase of the previous trading day, hitting a low of 149.24 some time after GMT 02:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:35 on October 17), the price is moving sideways in a triangle formation just below the crucial 150-yen level, forming higher lows and lower highs. The basic approach here would be to move in the direction in which the price breaks.
2024.10.16
Today in the first half of the Tokyo session, the USDJPY if anything trended downwards from the lower end of the 149-range, entering the 148-yen range for the time being. Looking at the 1-hour chart of the USDJPY (as of GMT 03:45 on October 16), the second push down came to an end just after the price entered the 148-yen range.
2024.10.15
In the first half of today's Tokyo session, the USDJPY entered a downward trend following yesterday's rebound. Shortly after GMT 01:30 the yen hit a low of 149.44. Looking at the daily chart of the USDJPY (as of GMT 03:30 on October 15), the close has broken above the previous high of 149.38 on August 15, but the price has been unable to surpass 150 yen.
2024.10.14
This week the USDJPY gapped down slightly at the open and started trading at 148.96 yen. This gap was then quickly filled, and the price began to rise. Looking at the daily chart of the USDJPY (as of GMT 03:35 on October 14), the increase in the price is just about being held back by resistance at 149.38.
2024.10.11
Today the USDJPY has drifted in a range-bound market in the 148-yen zone, with movement contained within the high and low of the previous day. Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on October 11), the Bollinger Bands have tightened and the angle of the middle line is gradually becoming less steep.
2024.10.10
Movement in the USDJPY was sluggish in the first half of the Tokyo session today, but a rise in the price between GMT 04:00 and GMT 05:00 led to the previous high being exceeded and a new high of 149.54 being set. Looking at the 1-hour chart of the USDJPY (as of GMT 05:15 on October 10), it has described a gentle curve resembling a cup-and-saucer pattern, and there is the possibility of a full-fledged breakout to the upside.
2024.10.09
So far today the USDJPY has been making new highs and new lows as the amplitude of its fluctuations has increased. At about GMT 05:00 it rose sharply, temporarily reaching 148.50. A look at the 1-hour chart of the USDJPY (as of GMT 05:10 on October 9) confirms that the downward drift of the previous day has come to an end and that the direction of the price has switched to a gradual rise.
2024.10.08
So far today trading in the USDJPY it has lacked momentum, with the price moving in the 147- to 148-range. A look at the 1-hour chart of the USDJPY (as of GMT 04:00 on October 8) shows that, since the surge in the market that was driven by the employment statistics on Friday of last week, the price has fallen slowly but steadily.

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