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.
2025.02.24
[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.
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.
