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.
2025.03.06
[March 6] Weak U.S. economic indicators lead to soft USDJPY. Awaiting tomorrow's employment statistics.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 6), it shows a narrowing band width while repeating ups and downs, creating a situation where the directional trend is difficult to see.
2025.03.05
[March 5] Market fluctuations due to Trump's remarks. Slightly bearish but limited movement.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 5), the support line at around 150.20 has become a resistance line. If it breaks above this level, an upward trend may develop in the short-term.
2025.03.04
[March 4] Trade war and Ukraine situation: Risks flare up again without time to settle
Today the yen strengthened due to risk aversion after reports emerged that the U.S. would completely halt military support to Ukraine. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 4), it shows a downward band walk, touching -1 standard deviations before falling again. The downward trend appears likely to continue.
2025.03.03
[March 3] USDJPY touches 151 yen but cautious mood subsides, careful about chasing higher prices
Today the USDJPY reached a high of 151.02 yen around GMT 23:30 (on March 2), but dollar buying retreated as concerns over the Ukraine situation eased, and as of GMT 04:00, it is in the lower 150-yen range.
2025.02.28
[February 28] Bank of Japan's movements and Trump tariffs, market waits cautiously caught between concerns
Today yen selling strengthened following the weak results of the February Tokyo Metropolitan Area CPI announced at GMT 23:30 (on February 27), reaching a high of 150.14 yen around GMT 00:00, but reached a low of 149.09 yen shortly after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 28), it continues to show directionless movement, fluctuating from the upper 148-yen range to the 150-yen range.
2025.02.27
[February 27] Risk vigilance spreads, USDJPY slightly weakens
Today the USDJPY touched a low of 148.74 yen just after GMT 23:30 (on February 26) amid cautious sentiment regarding 25% tariffs on the EU. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 27), it is trading within a range of plus/minus 2 standard deviations without direction.
2025.02.26
[February 26] Ongoing battle across the 149 yen level in USDJPY, direction remains ambiguous
Today the USDJPY turned upward after hitting a low of 148.62 yen shortly after GMT 23:00 (on February 25), and as of GMT 04:00, it is moving in the mid 149-yen range.
2025.02.25
[February 25] Buybacks progress but unable to maintain above 150 yen
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on February 25), it has been pushed back after exceeding +2 standard deviations, but if this decline becomes a dip, there is a possibility of pursuing higher prices beyond last week's high of 150.73.
2025.02.24
[February 24] USDJPY falls below 149 again--potential for further downside movement
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 24), the recovery after the decline has been weak, suggesting the possibility of resuming the downward Bollinger Band walk that was temporarily interrupted. With the middle line also trending downward, the downward trend appears likely to continue.
2025.02.21
[February 21] Sharp rebound from below 150 yen. Market continues to swing on officials' comments.
Today the USDJPY touched a low of 149.27 around GMT 23:30 (on February 20), then sharply rebounded following comments from BOJ Governor Kazuo Ueda. Around GMT 02:30, it reached a high of 150.73. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 21), while the sharp rebound temporarily exceeded +2 standard deviations, unless the price breaks above the recent high of 150.73 again, the downward trend appears likely to continue.
2025.02.20
[February 20] USDJPY falls below 151 again as yen buying continues
Today the USDJPY has fallen below 151 as yen buying dominates due to uncertainty surrounding peace negotiations for the Ukraine war and expectations of additional Bank of Japan rate hikes. As of GMT 04:00, it is trading at 150.36. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 20), it has broken below the February 7 low of 150.93. The downward trend appears likely to continue.
2025.02.19
[February 19] Yen selling somewhat dominant, USDJPY returns to 152 level
Today the USDJPY was focused on the speech by hawkish Bank of Japan board member Hajime Takata. However, there were no surprises, and after hitting a low of 151.75 around GMT 01:30 and a high of 152.31 around GMT 02:00, the pair has been trading in the upper 151-yen range.
2025.02.18
[February 18] USDJPY remains firm as expectations grow for U.S. rate cut delay
Today the USDJPY saw buying activity around GMT 23:00 (on February 17) after U.S. Federal Reserve Governor Christopher Waller commented that "a pause in rate cuts would be desirable." Looking at the 1-hour chart of the USDJPY (as of GMT 03:40, February 18), the price touched -2 standard deviations before reversing upward, but stopped just short of 152. If it breaks above this level, an upward trend may develop.
2025.02.17
[February 17] Japanese GDP shows strength, USDJPY falls below 152, almost completely erasing last week's gains
Today the USDJPY dropped to a low of 151.50 around GMT 02:30 after Japan's Q4 GDP data released at GMT 23:50 came in strong, reviving expectations for an early Bank of Japan rate hike.
2025.02.14
[February 14] USDJPY weakens below 153 as U.S.-China reciprocal tariffs implementation delayed
Today the USDJPY reached a high of 153.15 around GMT 23:30 (on February 13), and hit a low of 152.44 after GMT 01:00. As of GMT 04:00, it is trading in the upper 152-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30, February 14), it has retraced its earlier gains and is trading below the middle line.
2025.02.13
[February 13] JPY selling after CPI takes a breather near 155
Today the USDJPY has been trading mainly in the lower 154-yen range without clear direction until GMT 04:00. Looking at the 1-hour chart (as of GMT 04:00 on February 13), prices continue to trade above the middle line, and the upward trend appears likely to continue. If it breaks above 155 yen, the next target appears to be 158, which was reached in January.
2025.02.12
[February 12] Signs of yen weakening as U.S. interest rate expected to remain unchanged. USDJPY moves into 153-yen range.
Today buying activity increased due to Fed Chair Jerome Powell's comments from the previous day indicating that U.S. interest rates are expected to remain unchanged, reaching a high of 153.69 as of GMT 04:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 12), it has broken out of its range, with 155 appearing to be the next target. The upward trend appears likely to continue.
2025.02.11
[February 11] Limited market factors keep USDJPY trading range-bound around 152 yen
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 11), range-bound trading continues with the band width narrowing. It is difficult to determine a clear direction, so it seems that the best strategy here would be to move in the direction in which the price breaks. If the range-bound period is prolonged, it could lead to momentum once a direction is established.
2025.02.10
[February 10] USDJPY finds support at 151 yen. Market moves into a lull.
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY rose directly after the open, reaching a high of 152.21 around GMT 02:30. As of GMT 04:00, it is trading around 152.0.
2025.02.07
[February 7] Yen buying pauses in the 151 range ahead of U.S. employment statistics
Today the USDJPY touched a low of 150.95 shortly after GMT 00:00, pressured by Bank of Japan rate hike speculation and caution ahead of the Japan-U.S. summit meeting. Looking at the 1-hour chart of the USDJPY (as of GMT 03:50 on February 7), while it has broken above -1 standard deviation, the middle line continues to trend downward. The downward trend appears likely to continue.
