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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.


2024.10.07
Today the USDJPY marked a high of 149.13 directly after the open, and subsequently came off. Looking at the 1-hour chart of the USDJPY (as of GMT 04:45 on October 7), the price is in a correction phase after rising sharply, has fallen below the +1 standard deviation of the Bollinger Bands, and is now approaching the middle line.
2024.10.04
Today the USDJPY has been trading without energy and in the first half of the Tokyo session it drifted downward, trading in the lower half of the 146-yen range shortly after GMT 04:00. It seems highly likely that this sluggish movement will continue until the employment statistics later today.
2024.10.03
Today the USDJPY continued its upward trend of the previous day, reaching a high of 147.23 at around GMT 01:00. Looking at the 4-hour chart of the USDJPY (as of GMT 03:40 on October 3), the rise in the market that has been underway since yesterday has clearly broken above the high set on Friday of last week when the Liberal Democratic Party held its leadership election.
2024.10.02
Today the USDJPY hit a low of 143.42 yen directly after the Tokyo open, then began to climb. It reached a high of 144.18 shortly before GMT 04:00 but then declined.
2024.10.01
Today the USDJPY inherited the trend of the previous day and continued to rise during the morning session. Looking at the 1-hour chart of the USDJPY (as of GMT 04:45 on October 1), the price has begun to band walk between the +1 and +2 standard deviations, and continues to rise at a steady pace.
2024.09.30
It being the end of the month and also 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), the USDJPY rose from around GMT 22:00 and reached a high of 142.95 shortly before GMT 00:00 before falling back. With the expectation being that the House of Representatives will be dissolved and a general election held on October 27, it seems likely that the political situation in Japan will continue to have an impact on trading in the USDJPY market.
2024.09.27
The USDJPY followed an upward trend from the early Tokyo session, breaking through the 146 level shortly after GMT 06:00. A look at the 1-hour chart of the USDJPY (as of GMT 06:03 on September 27) shows a sharp rise.
2024.09.26
Today, the USDJPY hit a low of 144.44 before GMT 01:00, then climbed to around the key 145 level by GMT 04:00. However, it has since pulled back from that point. Looking at the 1-hour chart of the USDJPY (as of GMT 05:05 on September 26), you can observe that the resistance line at 144.44 turned into support.
2024.09.25
Partly because today was a so-called "5/10 day" the USDJPY began rising from the opening session. This upward momentum remained strong for some time even after the fixing of the TTM rate at GMT 00:55, and shortly after GMT 02:30 the price reached a high of 143.49.
2024.09.24
Today, the USDJPY opened at 143.58 yen and has been gradually rising. As of just before GMT 05:00, it's approaching 144 yen. Looking at the USDJPY 1-hour chart (as of GMT 04:45 on September 24), it appears to be testing the mid-144 yen level.
2024.09.23
Today's Tokyo market is closed for Autumnal Equinox Day. Although it rose from the opening session until around GMT 01:00, it has been moving in the 144 range since then. Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on September 23), it is being held down by the recent high of 144.45.
2024.09.20
Today at around GMT 03:00 it was announced that the Bank of Japan's Monetary Policy Meeting had left interest rates unchanged, in line with consensus. Looking at the 1-hour chart of the USDJPY (as of GMT 03:10 on September 20), there was no significant change directly after the announcement, suggesting that the market had already factored this latest decision into the price.
2024.09.19
Today the USDJPY inherited the upward trend that had continued since the FOMC announcement, with the market hitting a high of 143.94 at GMT 01:30. Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on September 19), having once broken below 140 yen and bottomed at around that level, the price is now trending upward and making higher highs and higher lows.
2024.09.18
Today the USDJPY opened at 142.33, then declined continuously so that by GMT 05:30 it was trading in the middle of the 141-yen range.
2024.09.17
Today, the USDJPY hit a high of 141.24 between GMT 23:00 and GMT 00:00, then fell back to mark a low of 140.31 a little while after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:10 on September 17), the price has broken completely through the previous support line of 141.68 and is now trading right above the critical 140-yen level.
2024.09.16
The Tokyo market is on holiday today. As of GMT 03:00 the USDJPY was trading in the 140-yen range, with no clear direction detectable. Looking at the 1-hour chart of the USDJPY (as of GMT 03:00 on September 16), the price has fallen through the critical level of 141.68, and is walking along the lower band.
2024.09.13
Today the USDJPY continued its downward trend shortly after the open, hitting a low of 140.89 a little after GMT 02:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:10 on September 13), although it is still an event in progress, the price is moving under the low of 141.68 that it was unable to completely break below the day before yesterday.
2024.09.12
So far today there has been no clear trend in the USDJPY, which is trading in the 142-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 05:30 on September 12), the price did break below the 141.68 that was the bottom in August and that had been the lowest price of the year so far, but it rebounded after forming a long bottom wick.
2024.09.11
Today the USDJPY fell sharply in the morning session, and by around GMT 01:30 had marked a low of 141.50. Looking at the daily chart of the USDJPY (as of GMT 02:55 on September 11), the lower wick of the candle just barely dipped below the August low of 141.68, but if there is a full-fledged breakout we could see another leg down.
2024.09.10
Partly because today was 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), the USDJPY began to rise again, having bottomed at 142.85 not long after GMT 22:30. Shortly after GMT 01:30, it hit a high of 143.54 yen. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on September 10), the price has reversed after marking a low in the upper half of the 141-yen range, but the trend seems to be lacking in momentum.

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