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.
2025.05.21
[May 21] Middle East situation and U.S.-China relations risk driving dollar selling toward below 144 yen
Today the USDJPY saw dollar selling due to risk aversion following reports that Israel is planning to attack Iran's nuclear facilities, and reports that China will take countermeasures against U.S. semiconductor regulations on Chinese products. The price reached a low of 143.72 yen shortly after GMT 03:30.
2025.05.20
[May 20] U.S.-Japan yen depreciation correction talks are causing concern, USDJPY struggles to move higher
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 following Finance Minister Katsunobu Kato's statement that he would discuss exchange rates with Scott Bessent, reaching a high of 145.51 yen shortly after GMT 00:00, then declining. Shortly after GMT 01:00, it reached a low of 144.72 yen, and as of GMT 04:00, it is trading in the upper 144-yen range.
2025.05.19
[May 19] USDJPY falls below 145 yen following U.S. credit rating downgrade
Today the USDJPY gapped down at the open. Dollar selling advanced due to Moody's downgrading of the U.S. credit rating over the weekend, reaching a low of 144.80 yen shortly after GMT 01:00. As of GMT 04:00, it is trading in the lower 145-yen range.
2025.05.16
[May 16] Gap from start of week fills, erasing this week's gains
Today the USDJPY reached a high of 145.68 yen shortly after GMT 23:30 (on May 15) before declining, touching a low of 144.96 yen around GMT 01:00. As of GMT 05:00, the decline has paused, and the price is moving in the lower 145-yen range.
2025.05.15
[May 15] Decline pauses in the 145-yen range, concerns grow over yen weakness correction
Today the USDJPY continued to strengthen due to caution that yen weakness correction may become a topic in future Japan-U.S. consultations, following reports that South Korea had discussions with the United States on exchange rate policy earlier this month. The price reached a low of 145.95 yen around GMT 02:30.
2025.05.14
[May 14] Dollar strength fails to persist, adjustment continues as it approaches below 147 yen
Today the USDJPY reached a high of 147.67 yen shortly after GMT 00:00, then declined, touching a low of 147.00 yen around GMT 01:30, and as of GMT 04:00, it is approaching today's low again.
2025.05.13
[May 13] Risk appetite improves due to positive U.S.-China trade negotiations, USDJPY quickly rises to 148 yen
Today the USDJPY is trading somewhat weakly as the previous day's rally pauses and some adjustment occurs, but it stopped declining around 147.73 yen and as of GMT 04:30 is consolidating in the upper 147-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on May 13), the bands that had been expanding are now contracting, and on this time frame the range is between 148.65 and 147.73 yen.
2025.05.12
[May 12] Dollar buying on expectations of easing U.S.-China trade tensions, market watching after reaching 146 yen
Today the USDJPY gapped up at the open to 146.22 yen. Shortly after GMT 01:00, it reached a high of 146.28 yen before falling back, but stopped declining around the 145.70 yen level. As of GMT 04:00, it is moving without clear direction.
2025.05.09
[May 9] USDJPY temporarily exceeds 146 yen on expectations of advancement regarding Trump's tariff policy
Today the USDJPY reached a high of 146.18 yen shortly after GMT 00:00, then shifted to a gradual decline, hitting a low of 145.46 yen around GMT 03:00. As of GMT 04:00, it is trading in the upper 145-yen range.
2025.05.08
[May 8] U.S. interest rate remains unchanged. After reaching 144 yen, the USDJPY gradually declined.
Today the USDJPY has been trading weakly following yesterday's rise. The British pound gained following reports that a trade agreement between the U.S. and the United Kingdom is scheduled to be announced tonight, pushing down the dollar, and shortly after GMT 02:30, it reached a low of 143.44 yen.
2025.05.07
[May 7] Rise to 145-yen range is wiped out, back to competition in the 143-yen range
Today the USDJPY rose following reports that U.S.-China trade negotiations are expected to begin this weekend. Shortly after GMT 04:30, it reached a high of 143.32 yen, but the rise has since paused.
2025.05.06
[May 6] Selling pressure on the dollar continues, with small movements in the 143-yen range
Today the USDJPY reached a high of 144.27 yen shortly after GMT 01:30, but quickly reversed course and as of GMT 05:00, it is trending downward to around 143.7 yen.
2025.05.05
[May 5] Last week's yen depreciation pauses, USDJPY holds steady just short of breaking below 144 yen
Today the USDJPY was weak right from the opening, reaching a low of 144.06 yen around GMT 02:30. As of GMT 04:30, it is moving in the lower 144-yen range.
2025.05.02
[May 2] Expectations of delay to BOJ rate hike push USDJPY near 146 yen as markets await U.S. employment statistics
Today the USDJPY reached a high of 145.92 yen around GMT 00:30 and then paused, and as of GMT 05:00, it is trading in the lower 145-yen range.
2025.05.01
[May 1] Bank of Japan maintains interest rate, yen selling follows as expectations for additional rate hikes recede
Today the USDJPY weakened after the Bank of Japan maintained its interest rate and reports that the Outlook Report would downgrade GDP and price forecasts, reaching a high of 144.02 yen around GMT 05:00.
2025.04.30
[April 30] USDJPY in 142-yen range showing resilience to downside, market awaits U.S. economic indicators
Today the USDJPY is trading somewhat firmly as of GMT 04:00, with dollar buying returning after President Trump's 100-day inauguration anniversary speech concluded without incident.
2025.04.29
[April 29] USDJPY briefly falls below 142 yen before rebounding, buyback continues after decline
Today the USDJPY has stabilized after yesterday's decline with dollar buybacks occurring, showing firmness despite fluctuations. As of GMT 05:00, it is trading in the upper 142-yen range.
2025.04.28
[April 28] Stalled in the mid-143 yen range, direction remains uncertain
Today the USDJPY reached a high of 143.87 yen around GMT 22:30 (on April 27), a low of 143.34 yen around GMT 01:00, and as of GMT 04:00, it is moving without clear direction in the 143.6-yen range.
2025.04.25
[April 25] China considering exempting some products from tariffs. Could this be a sign of easing trade war tensions?
Today the USDJPY has been somewhat firm since the opening. Reports that China is considering exempting some U.S. products from tariffs caused a sharp rise, and around GMT 04:00, the price reached a high of 143.80 yen, and continues to rise.
2025.04.24
[April 24] Has the heat from Trump's comments cooled down? USDJPY pushed downward gradually, breaking below 143 yen
Today the USDJPY has been declining since the market opening, reaching a low of 142.60 yen shortly after GMT 02:30, and as of GMT 04:00, it is trading in the upper 142-yen range.Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on April 24), it has reached the +2 standard deviation level and has since retreated.
