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.
2025.02.06
[February 6] USDJPY drops below 152 on rising Bank of Japan rate hike expectations
Today the USDJPY touched a high of 152.75 around GMT 23:30 (on February 5), then turned downward, reaching a low of 151.81 around GMT 01:30. Finance Minister Katsunobu Kato's comments and Bank of Japan board member Naoki Tamura's hawkish stance are strengthening expectations for a Bank of Japan rate hike. Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on February 6), the downward bandwalk continues, and it appears poised to test the critical level of 150. The downward trend appears likely to continue.
2025.02.05
[February 5] USDJPY enters 153 range amid risk aversion and Bank of Japan rate hike speculation
Today the USDJPY marked a high of 154.46 directly after opening, then declined. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on February 5), the width of the Bollinger Bands is expanding, indicating a downward trend along the Bollinger Bands. If it breaks below 153, there is potential for movement targeting 150.
2025.02.04
[February 4] Global economic uncertainty rises over tariffs. Markets show signs of indecision.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 4), it has been moving significantly up and down between around 154.00 and just under 156.00, making it difficult to grasp a clear direction. It seems that the best strategy here would be to move in the direction in which the price breaks out of this range.
2025.02.03
[February 3] USDJPY firm on dollar buying following Trump tariff implementation
Today the USDJPY gapped down at the open at 154.74 yen, then filled the gap and rose. Trump's tariff policies are raising concerns about global trade friction, leading to dollar strength.
2025.01.31
[January 31] USDJPY falls below 154, risk-averse yen buying weighs on upside
Today the USDJPY hit a high of 154.50 around GMT 23:00 (on January 30) and a low of 153.91 around GMT 01:30, showing directionless trading as of GMT 04:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on January 31), while the decline has halted and turned into range trading, the pattern of breaking to new lows within the range continues, suggesting the possibility of a decline to the January 27 low of 153.71
2025.01.30
[January 30] U.S. Policy rate unchanged as expected by market. Attention now turns to Bank of Japan.
Today the USDJPY fell directly after the open, and hit a low of 154.46 shortly after GMT 01:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:20 on January 30), downward momentum is strengthening, with the middle line turning downward. There is potential for further downside movement below 154.
2025.01.29
[January 29] USDJPY continues range-bound trading in 155-yen zone, market in wait-and-see mode ahead of FOMC
Today the USDJPY reached a high of 155.79 around GMT 01:00, then fell back to record a low of 155.32 shortly after GMT 03:30. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on January 29), the width of the Bollinger Bands has narrowed, with range-bound trading between around 155.2 and 156 yen.
2025.01.28
[January 28] Risk-averse yen appreciation briefly breaks below 154, but nears complete reversal
Today the USDJPY has risen to the upper-155 range as of GMT 04:00, with views spreading that Bank of Japan rate hikes will be delayed due to Trump tariff concerns. Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on January 28), it has recovered from its decline and returned to mid-January range.
2025.01.27
[January 27] Yen strengthens on risk aversion due to Trump tariffs. Trade war concerns intensify.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00, January 27), the price has been moving significantly up and down within a range of 156.75 to the upper 154 range, showing a continued lack of clear direction.
2025.01.24
[January 24] U.S. rate cut expectations and Bank of Japan rate hike. Markets await BOJ Governor Kazuo Ueda's press conference.
Today the USDJPY fluctuated significantly after the Bank of Japan announced a rate hike to 0.50% shortly after GMT 03:00, reaching a high of 156.41 and a low of 155.71 around GMT 03:30. BOJ Governor Kazuo Ueda's press conference is scheduled for GMT 06:30.
2025.01.23
[January 23] USDJPY continues to strengthen but Bank of Japan monetary policy meeting looms. Movement may slow.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 January 23), the price broke above the consolidation range with the middle line showing an upward angle. A move above 157 and higher is possible.
2025.01.22
[January 22] Markets may take wait-and-see approach amid caution over Trump's comments and Bank of Japan decision
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on January 22), the middle line shows gentle movement, indicating a trendless state. It would be advisable to follow the direction once it breaks either the range ceiling of 156.58 or the range floor of 154.77.
2025.01.21
[January 21] USDJPY shows volatile movement on Trump tariff news. Nervous trading continues.
Today the USDJPY reached a high of 156.23 shortly after GMT 00:30, following reports that President Trump plans to impose tariffs of up to 25% on imports from Mexico and Canada. It soon reversed course and hit a low of 154.77 shortly after GMT 03:00, and as of GMT 04:00 is trading in the lower 155-yen range.
2025.01.20
[January 20] USDJPY slightly weak ahead of Trump's presidential inauguration
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 hit a high of 156.58 yen shortly after GMT 23:00 (on January 19), then turned downward, reaching a low of 155.70 yen shortly after GMT 03:30. With Trump's U.S. presidential inauguration ceremony approaching in the early hours of January 21, a wait-and-see mood pervades the market.
2025.01.17
[January 17] USDJPY drops below 155 on Bank of Japan rate hike expectations and U.S. rate cut expectations
Today the USDJPY hit a low of 154.97 shortly after GMT 00:30, then reached a high of 155.49 around GMT 04:00, and continues to trade higher. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 January 17), it briefly reached +1 standard deviation but is trending downward. If it breaks below 155 again, it appears likely to aim lower.
2025.01.16
[January 16] USDJPY Plunges to 155 range amid successive Bank of Japan rate hike predictions
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40), the price has broken below its previous range and fallen significantly. The downward trend appears likely to continue.
2025.01.15
[January 15] USDJPY continues to trade in range - will CPI data determine direction?
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 January 15), prices are ranging between around 157.0 and 158.2. One sensible approach might be to move in the direction in which the price breaks.
2025.01.14
[January 14] USDJPY fluctuates on Bank of Japan rate hike speculation, continues to trade in 157 range
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 experienced volatility when Deputy Governor of the Bank of Japan Himino mentioned potential rate hikes this year at GMT 01:30, hitting a high of 158.03 and a low of 156.99, but has since been trading without clear direction in the upper 157-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30), it is range-bound between 157 and 158 yen. It seems that the best strategy here would be to move in the direction in which the price breaks.
2025.01.13
[January 13] USDJPY shows subdued movement with bearish tone after U.S. employment data volatility
Today the USDJPY reached a high of 157.96 shortly after GMT 00:00 before turning downward, then hit a low of 157.27 after GMT 01:30. As of GMT 04:00, it is falling again, targeting the recent low.
2025.01.10
[January 10] Small movements around 158 yen. Market in wait-and-see mood ahead of U.S. employment statistics.
Today the USDJPY touched a low of 157.93 around GMT 01:00, then rose to reach a high of 158.28 shortly after GMT 02:30, and as of GMT 04:00 is moving in the lower half of the 158-yen range. With U.S. employment statistics scheduled for release at GMT 13:30 today, there is little momentum in the market.
